Crypto Broker Genesis Eliminates 30% of Staff in Latest Cuts (1)

Genesis Global Trading Inc. has laid off more than 60 employees in its latest round of job cuts, amounting to roughly 30% of the troubled crypto-brokerage’s workforce.

The dismissals follow a separate round of job eliminations last year that saw a number of key leadership departures, and signal further upheaval at the New York-based firm amid an extended rout in the digital-assets market. The company now has 145 employees remaining, according to a Genesis spokesperson.

“As we continue to navigate unprecedented industry challenges, Genesis has made the difficult decision to reduce our headcount globally,” said a Genesis spokesperson in an ...