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Crypto Trading Firm NYDIG Lays Off About 33% of Staff

Tracy Wang, Eliza Gkritsi, Danny Nelson - CoinDesk
2022-10-14 01:50

Bitcoin services company NYDIG has laid off around 100 people, according to four people familiar with the matter.

The firm has cut approximately 30% of staff in the past several weeks, according to three people familiar with the matter. The layoffs had been going on for “several weeks,” one source added.  The Wall Street Journal first reported the layoffs late Thursday, putting the figure at 110 employees.

“It’s like a trading desk mentality where nobody talks to anyone,” a former NYDIG employee told CoinDesk. “You can disappear and nobody will know for months.”

A spokesperson for NYDIG declined to comment.

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