Digital asset manager Osprey Funds has reportedly laid off most of its staff since the summer, underscoring the ongoing operational challenges posed by crypto’s enduring bear market.
Yahoo Finance reported on Jan. 9 that Osprey Funds is currently operating with fewer than ten employees after laying off 15 staff members since the summer. CEO Greg Kling told the publication that the layoffs were consistent with the market downturn and that Osprey was not at risk of closing operations.
Osprey offers accredited investors access to crypto-focused investment products, including an over-the-counter Bitcoin (BTC) trust that can be purchased inside brokerage accounts.
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