Paxos Lays Off 65 Employees Following Yield-Bearing Stablecoin Launch

Quick Summary:

According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce.

This development comes on the heels of Paxos International’s announcement of its yield-bearing stablecoin.

Paxos Trims Workforce by 20% Bloomberg reports that Paxos has laid off 65 employees, which accounts for 20% of its staff.

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Article Details

Author / Journalist: Jamie Redman

Category: Crypto

Markets: Japan

Topics: Charles Cascarilla Yield-bearing NYDFS News Paxos Layoffs Paxos International Stablecoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-16 @ 16:39:46 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: news.bitcoin.com

Language: English

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoin News

News ID: 21271931

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Official Website: news.bitcoin.com

Update Frequency: 18 posts per day

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Headquarters: Japan

News Last Updated: 9 hours ago

Coverage Areas: Japan

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