According to Blockworks, Fireblocks, a custody platform valued at $8 billion, has laid off 21 employees, or 3% of its total headcount. This comes after Polygon Labs announced the dismissal of 60 employees on February 1. Both companies cited efficiency as the reason for the layoffs, rather than financial necessity. Fireblocks stated that the layoffs were part of a broader restructuring in its go-to-market and customer support operations, aiming for a more efficient and streamlined service. The company also hinted at plans to expand its operations globally, with offices currently in the US, Europe, Asia, and Israel.
In other news, prominent bitcoin mining firm Hut 8 announced that its current president, Asher Genoot, will become its new CEO, replacing Jaime Leverton, who had served as CEO since December 2020. The change comes after the short seller J Capital Research released a report criticizing Hut 8's merger with US Bitcoin Corp, alleging a history of pump and dump schemes. Hut 8's stock price is up amid a bullish week for bitcoin but remains down more than 35% overall in 2024.
Additionally, CoinDesk announced that Sara Stratoberdha, former business development head for crypto exchange Bullish, will replace Kevin Worth as its CEO. Bullish became CoinDesk's parent company after an acquisition from Digital Currency Group in November. Variant Fund investor Medha Kothari has left to lead product development for wallet-related matters at Uniswap Labs, and former Consensys project manager Ben Edgington has become the lead technical program manager at OP Labs.
