Crypto firm Consensys to cut 20% of workforce amid macroeconomic, regulatory headwinds

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:Cryptocurrency firm Consensys said on Tuesday it would cut 20 per cent of its total workforce, citing broader macroeconomic pressures and ongoing regulatory challenges facing the industry.

It also noted that the lack of regulatory frameworks in certain markets complicates operations.

"Such attacks from the U.S.government will end up costing many companies that have been investigated, sued, or sent Wells Notices, many millions of dollars," he added.

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Category: EconomyBusiness

Markets: Singapore

Topics: Lubin Total Regulatory Consensys Crypto Industry Pressures Firm Macroeconomic Company Companies

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 00:25:40 (1 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 367 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23330814

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Main Topics: EconomyBusiness

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