London-based cryptocurrency exchange and wallet provider Blockchain.com has revealed that it will implement a second round of job cuts. This time, the company plans to reduce its total headcount by 28%.

Genesis Global Trading laid off more employees on Thursday, a spokesperson for the crypto-trading firm confirmed in a statement to CoinDesk. A person familiar with the matter said Genesis eliminated about 30% of its workers, taking it down to 145 employees. Genesis previously cut 20% of its workforce of 260 in August. The sales and business-development departments have been especially hard hit, the person added. (Coindesk)

Reports that Huobi is dramatically cutting headcount, requiring employees to take their salaries in stablecoins, and closing internal staff communication channels to quell a rebellion have taken a toll on its exchange token and trading volume. CoinGecko data shows that Huobi’s HT token has fallen by nearly 11% during the last 24 hours, to $4.67 as of morning East Asia time. The token is down nearly 30% over the past month. (Coindesk)

According to reports, <a rel="nofollow" href="https://www.candy.com/">Candy Digital</a>, a sports and entertainment <a href="https://coingape.com/tag/nft/">NFT</a> start-up founded in 2021 and valued at $1.5 billion the same year, has laid off a major portion of its workforce.