Crypto Billionaire Wu Cuts Jobs at One Firm, Loses CEO at Other

Billionaire Jihan Wu is reshuffling the leadership of his asset manager while shedding 10% of staff at his digital-currency lending firm, the latest signs of turmoil in the crypto industry.

Damien Loh, Matrix Asset Management’s chief executive officer, has left the company, according to two people who asked not to be identified discussing personnel issues. I Z Wong, the head of business development and investor relations, has also left, according to one of the people.

Asked about the leaders’ departures, Matrix Asset Management’s Chief Operating Officer Yu Yee Woon said that “the firm is transitioning to new leadership, ...