Cryptocurrency firm Genesis has cut 30 percent of its workforce in a second round of layoffs in less than six months, Reuters has reported, citing a person familiar with the matter as pressure builds on crypto industry executives to cut costs in the wake of a downturn.“As we continue to navigate unprecedented industry challenges, Genesis has made the difficult decision to reduce our headcount globally,” a spokesperson for the company confirmed.The layoffs were first reported by the Wall Street Journal, which also said Genesis is considering filing for Chapter 11 bankruptcy in the United States.
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