:Blockchain technology company ConsenSys plans to cut 11 per cent of its workforce, or 96 jobs, according to a letter from chief executive officer Joseph Lubin on Wednesday.
Layoffs at ConsenSys follow similar steps to rein in costs at crypto companies including Silvergate Capital Corp and Coinbase Global Inc at a time when a prolonged rout has pummeled the sector. But the bigger blow came after larger crypto exchange FTX filed for bankruptcy protection. Its swift fall has also sparked tough regulatory scrutiny of how major exchanges hold user funds.
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