Crypto lender Genesis lays off 30% of staff – source

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(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 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…

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