quietly cut hundreds of jobs

The crypto industry says it wants to transform traditional finance and its practices, but it lags behind on one of its biggest legacy issues: transparency.

And one of the biggest players in the cryptosphere has just shown that without transparency, the industry will not gain the trust of the general public and investors.

Job cut background said in June it would cut 260, or 5%, of its jobs in an effort to cut costs amid the cryptocurrency crash.

At the time, the crypto market had lost more than $2 trillion from its all-time high of $3 trillion reached last November amid investors’ cryptomania.

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