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Crypto.com CEO announces 20% job cut that “didn't take into account” FTX collapse

Published on

January 13, 2023
Read Time:1 Minute, 2 Second

Crypto alternate Crypto.com co-founder and CEO Kris Marszalek introduced Jan. 13 that the corporate is having to cut back its international workforce by 20%, citing poor market situations and "latest business occasions."

As I shared with the group as we speak, whereas we proceed to carry out effectively, market situations and up to date business occasions have made this the proper choice for the corporate right now.

— Chris | Crypto.com (@kris) January 13, 2023

"Immediately we made the tough choice to cut back our international workforce by roughly 20%," mentioned Kris Marszalek, the crypto alternate's co-founder and CEO, in a press release.

“All affected staff have already been notified. These cuts had been by no means associated to efficiency and we need to categorical our deepest gratitude to them for all their contributions to Crypto.com.”

Marzalek mentioned a number of elements performed into her choice, together with "continued financial headwinds and unpredictable business occasions."

“We grew ambitiously in early 2022, constructing on our unbelievable momentum and aligning with the evolution of all the business. This development rapidly modified with the confluence of damaging financial developments.”

That is an evolving story and extra data can be added because it turns into obtainable.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 13, 2023
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