Crypto Firm Genesis Fires 20% of its Employees

A lot of crypto-focused companies are being forced to lay off employees in order to reduce operating costs as a result of the crash of the digital assets market.

In addition, some teams have cut staff by more than 50%. Now the list has been expanded by the crypto lending platform Genesis. Its CEO Michael Moro has recently resigned during a personnel reshuffle. In addition, the company has reduced the number of employees by 20% already this week.

The company management has decided to revise the business model and work only with those projects and areas that are still generating income.