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Layer-1 Platform Radix Cuts Workforce by 15% — #smartcontract #Web3 https://t.co/iQHBU8L41u
🚨SCOOP: Custodia Bank laying off employees as Biden admin's crypto crackdown weighs on digital asset industry @custodiabank told staff about the cuts Thursday AM, citing an effort to preserve capital as it battles the Fed and “Operation Chokepoint 2.0.” https://t.co/kPPJMkT7ug
RADIX CUTS STAFF TO REBOOT As it streamlines its operations, Radix announced it was axing 15% of its workforce. CEO Piers Ridyard says key projects are still on but expect some bumps. XRD token ticked up 1% to $0.02352 but is still way down from its peak. This move follows a… https://t.co/lNcmlGykhh
Radix DeFi Network has announced a 15% reduction in its workforce as part of significant organizational changes aimed at refocusing its strategy. CEO Piers Ridyard confirmed that, despite the layoffs, key projects such as the test network Cassandra and multifactor account security will continue, although challenges may arise during the transition. The decision to cut costs follows a broader trend in the digital asset industry, which is facing pressures from regulatory actions and market conditions. Following the announcement, the price of the XRD token increased by 1% to $0.02352, although it remains significantly lower than its peak value.
