MoonPay Fires Dozens Employees

MoonPay, a crypto payments hotshot, has seen dozens of departures at all levels of the company in the past six months, with the average tenure of the more than 50 people who left standing at no more than 10 months.

However, the firm claims they have been “smart scaling the team,” resulting in a headcount of 279 full-time employees since March last year:

“MoonPay has and continues to smart scale the team. We’ve hired new leaders and C-suite execs across the company and empowered them to build out new teams and structures.” 

The four-year-old payment firm made a splash with PR-heavy stunts and a $555 million Series A fundraise at a $3.4 billion valuation in November 2021, but there have been signs of internal tension despite the glitz and glamour.