Crypto media company CoinDesk has reduced its workforce as parent company DCG plans to bring in strategic investors.
The company, which was founded in 2013, announced the layoffs internally on Monday, according to a memo reviewed by The Block. The firm is having an all-hands meeting at 4:00pm ET to discuss the layoffs. "This was a required step to ensure a financially sound business moving forward and to set us on the path to close the deal to sell CoinDesk Inc," he added.
to shareholders, CoinDesk hired financial advisers to"help bring on new institutional and strategic investors alongside DCG."
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