Last year, GSR was looking to expand its headcount to more than 200 people from just 25 a year ago.
Crypto market maker and liquidity provider GSR has laid off less than 10% of staff during the third quarter of this year. The reduction in headcount comes as part of structural changes to position the business for long-term growth, a GSR spokesperson told The Block. In July of last year, the firm was on track to expand its headcount to more than 200 people from just 25 the year before, said Rich Rosenblum, co-founder of GSR,“After a period of rapid expansion, our focus is on improving overall efficiency and continued development of our technology and trading capabilities,” said a GSR spokesperson.
Founded by former Goldman Sachs executives in 2013, GSR is one of the oldest market makers in crypto. It offers services from market making to over-the-counter trading and risk management services. The firm has also been exploringThe layoffs come at a time when the crypto industry is in a state of flux. Many top executives from leading crypto firms such as FTX, NYDIG, OpenSea and Genesis have
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