The line went down.
It’s the latest in a string of Web3 companies that expanded rapidly over the last couple of years as crypto prices spiked and are now cutting staff.
Finzer said that the company was able to notify affected employees directly in person before announcing the layoffs, providing “generous” severance, healthcare for the rest of the year, job placement assistance, and accelerated equity vesting. In his note, Finzer says these changes give the company up to five years’ worth of runway if this “crypto winter” continues.
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