Crypto.com Will Reduce its Workforce by 20% to Optimize Costs

Kris Marszalek, CEO of cryptocurrency platform Crypto.com, has announced a new wave of cuts amid poor market conditions and “recent industry developments.” According to him, this optimization will affect 20% of the staff.

He has added:

“I remain confident in our business and the future of cryptocurrencies, but I recognize that we have a lot of work to do to help restore confidence in the industry. It will take time, but we will do it.”

He has claimed that the collapse of FTX and the market situation are the reasons behind the decision.

Marszalek announced in June the company was laying off 260 employees. Then, in October, the firm fired about 40% of its employees (2,000 employees).