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Crypto lender Genesis lays off 30% of staff - source

Friday, January 6, 2023
Crypto lender Genesis lays off 30% of staff - source © Reuters. FILE PHOTO: A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Cryptocurrency firm Genesis has cut 30% of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter, as pressure builds on crypto industry executives to cut costs in the wake of a downturn.

Several firms have suffered from waning investor appetite for crypto after major exchange FTX blew up in September. Earlier on Thursday, crypto-focused bank Silvergate Capital (NYSE:SI) Corp also said it was slashing headcount by 40%.

"As we continue to navigate unprecedented industry challenges, Genesis has made the difficult decision to reduce our headcount globally," a spokesperson for the company confirmed.

The layoffs were first reported by the Wall Street Journal.

New York-based Genesis also laid off 20% of its employees in August. Before the two rounds of layoffs, the company employed around 260 people.

The crypto firm's lending arm, Genesis Global Capital, froze customer withdrawals in November, citing "unprecedented market dislocation" following the collapse of major crypto exchange FTX.

Higher interest rates and worries of an economic downturn have also piled pressure on the crypto industry, as investors flee risky assets.

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01-10-2023 16:09:45 (UTC+7)

EUR/USD

1.0572

+0.0013 (+0.12%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.0572

+0.0013 (+0.12%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.2201

+0.0004 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (6)

USD/JPY

149.38

+0.10 (+0.06%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (4)

AUD/USD

0.6438

+0.0015 (+0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.3575

+0.0089 (+0.66%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (2)

EUR/JPY

157.92

+0.17 (+0.11%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

0.9677

+0.0010 (+0.10%)

Summary

Neutral

Moving Avg:

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Sell (4)

Indicators:

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Sell (5)

Gold Futures

1,864.60

-14.00 (-0.75%)

Summary

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Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (8)

Silver Futures

22.390

-0.351 (-1.54%)

Summary

Neutral

Moving Avg:

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Sell (5)

Indicators:

Buy (1)

Sell (7)

Copper Futures

3.7340

+0.0260 (+0.70%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Crude Oil WTI Futures

90.77

-0.94 (-1.02%)

Summary

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Indicators:

Buy (0)

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Brent Oil Futures

92.09

-1.01 (-1.08%)

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Natural Gas Futures

2.930

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Indicators:

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US Coffee C Futures

145.23

-1.97 (-1.34%)

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Sell (12)

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Sell (9)

Euro Stoxx 50

4,173.35

+11.79 (+0.28%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (9)

S&P 500

4,288.05

-11.65 (-0.27%)

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↑ Sell

Moving Avg:

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Sell (10)

Indicators:

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Sell (7)

DAX

15,386.58

+63.08 (+0.41%)

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Moving Avg:

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Indicators:

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Sell (8)

FTSE 100

7,608.08

+6.23 (+0.08%)

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Sell (12)

Indicators:

Buy (0)

Sell (9)

Hang Seng

17,822.00

+471.00 (+2.71%)

Summary

Buy

Moving Avg:

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Sell (4)

Indicators:

Buy (3)

Sell (2)

US Small Cap 2000

1,785.10

-9.21 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (7)

IBEX 35

9,428.00

+1.20 (+0.01%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (10)

BASF SE NA O.N.

42.950

+0.305 (+0.72%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (7)

Bayer AG NA

45.45

+0.10 (+0.22%)

Summary

↑ Sell

Moving Avg:

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Sell (5)

Allianz SE VNA O.N.

225.70

-2.85 (-1.25%)

Summary

Sell

Moving Avg:

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Sell (4)

Adidas AG

166.62

+9.76 (+6.22%)

Summary

↑ Sell

Moving Avg:

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Indicators:

Buy (0)

Sell (7)

Deutsche Lufthansa AG

7.506

-0.023 (-0.31%)

Summary

Neutral

Moving Avg:

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Siemens AG Class N

135.66

+0.08 (+0.06%)

Summary

↑ Sell

Moving Avg:

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Deutsche Bank AG

10.450

+0.068 (+0.65%)

Summary

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Moving Avg:

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Sell (6)

 EUR/USD1.0572↑ Sell
 GBP/USD1.2201↑ Sell
 USD/JPY149.38Neutral
 AUD/USD0.6438↑ Buy
 USD/CAD1.3575↑ Buy
 EUR/JPY157.92↑ Sell
 EUR/CHF0.9677Neutral
 Gold1,864.60↑ Sell
 Silver22.390Neutral
 Copper3.7340↑ Buy
 Crude Oil WTI90.77↑ Sell
 Brent Oil92.09↑ Sell
 Natural Gas2.930↑ Sell
 US Coffee C145.23↑ Sell
 Euro Stoxx 504,173.35↑ Sell
 S&P 5004,288.05↑ Sell
 DAX15,386.58↑ Sell
 FTSE 1007,608.08↑ Sell
 Hang Seng17,822.00Buy
 Small Cap 20001,785.10↑ Sell
 IBEX 359,428.00↑ Sell
 BASF42.950↑ Sell
 Bayer45.45↑ Sell
 Allianz225.70Sell
 Adidas166.62↑ Sell
 Lufthansa7.506Neutral
 Siemens AG135.66↑ Sell
 Deutsche Bank AG10.450↑ Sell
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Cập nhật 01-10-2023 16:09:47
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ↀ Giá vàng thế giới
$1,848.82-17.92-0.96%
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Sản phẩmVùng 1Vùng 2
RON 95-V26.27026.790
RON 95-III25.74026.250
E5 RON 92-II24.19024.670
DO 0.05S23.59024.060
DO 0,001S-V24.45024.930
Dầu hỏa 2-K23.81024.280
ↂ Giá dầu thô thế giới
WTI$89.87+7.860.10%
Brent$91.87+6.210.07%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.090,0024.460,00
EUR25.089,2726.466,85
GBP28.963,5430.196,84
JPY158,64167,93
KRW15,6319,04
Cập nhật lúc 16:03:38 01/10/2023
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