Genesis Global Trading is laying off 20% of its 260-person workforce weeks after court filings revealed that the crypto brokerage firm lent $2.4 billion to the now-bankrupt crypto hedge fund Three Arrows Capital Ltd. The job cuts were announced as part of the firm’s leadership changes that will also result in the departure of Genesis Chief Executive Michael Moro.
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Crypto Lender Genesis Lays Off 20% of Workforce, CEO to Depart
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Genesis Global Trading is laying off 20% of its 260-person workforce weeks after court filings revealed that the crypto brokerage firm lent $2.4 billion to the now-bankrupt crypto hedge fund Three Arrows Capital Ltd. The job cuts were announced as part of the firm’s leadership changes that will also result in the departure of Genesis Chief Executive Michael Moro.
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