🦊 ShapeShift lays off 37 in latest round of crypto industry cutbacks
Erik Voorhees, CEO of crypto exchange ShapeShift announced that the firm had laid off 37 employees, about a third of the firm, as of today. While the markets are tough overall Voorhees noted some specific issues at the company including moving too quickly into new products, a loss of business following the implementation of know-your-customer (KYC) checks, and the impact of falling crypto prices on the company's balance sheet.
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