Crypto.com Announces 20% Layoffs

Crypto.com CEO Kris Marszalek has announced 20% layoffs. He thanked the employees for their contributions and said that the layoffs had nothing to do with performance and that a number of factors led to this decision.

One of the main reasons was the FTX crash, which directly undermined the level of trust users had in the crypto industry. Therefore management decided to make additional layoffs in order for the company to achieve long-term success.