(Pixabay)
(CNBC) – Crypto.com announced Friday that it’s laying off 20% of its workforce. CEO Kris Marszalek said in a blog post that the crypto exchange grew “ambitiously” but was unable to weather the collapse of Sam Bankman-Fried’s crypto empire FTX without the further cuts.
“All impacted personnel have already been notified,” Marszalek said in a post.
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The company has 2,450 employees, according to PitchBook data, suggesting around 490 employees were laid off. A Crypto.com representative was not immediately available to comment.
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