Crypto giant Binance has laid off more than 1,000 people in recent weeks in a continuing exercise that could result in the exchange losing more than a third of its staff, the Wall Street Journal reported on Friday, citing a person familiar with the moves.
Last week, a string of executives also quit Binance, which included its Chief Strategy Officer Patrick Hillmann.
US regulators last month sued the crypto exchange and its CEO Changpeng Zhao for allegedly operating a “web of deception.” Binance has said it would defend itself “vigorously.” More employees were laid off this week, according to former employees, who said customer-service workers were heavily affected.
The cuts were global, including about three dozen customer-service employees in India, the report added.
Binance did not immediately respond to a Reuters request for comment.
First Published: Jul 14 2023 | 11:40 PM IST
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