Paxos Reduces Workforce by 20% After New Stablecoin Launch
Paxos, a regulated stablecoin issuer, is laying off 65 employees, amounting to 20% of its workforce. This decision follows the recent launch of Paxos International’s yield-bearing stablecoin, USDL. Workforce Reduction and Financial Health Bloomberg reported the layoffs, revealing the information through an email obtained by Olga Kharif. Paxos CEO Charles Cascarilla addressed the layoffs, emphasizing …
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