that it was reevaluating its staffing “to focus talent density across the organization to ensure we remain nimble and dynamic.” Ismael Garcia Makroum Talbi, a Binance spokesperson, was responding by email to a Forbes request for comment on aposting by journalist Colin Wu that said the company was going to lay off 20% of its workforce.
“This is not a case of rightsizing,” Talbi wrote, “but rather, reevaluating whether we have the right talent and expertise in critical roles, and therefore we will still be seeking to fill hundreds of open roles., CEO Alex Svanevik wrote, “Although we’ve seen diversification of revenues via enterprise and institutional customers in the last year, our cost base is too high relative to where the company is today.
He took responsibility for expanding too far. “We wanted to invest and build in a tough market where others needed to scale back,” leading to “taking on surface area that’s not truly part of Nansen’s core strategy.” But he added that the company has enough funds for “several years” of operations. Nansen most recently raised $75 million in a series B funding round in December 2021 that valued the company at $750 million, according to data from
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