Crypto app Lemon Cash cuts 38% of its staff and has raised $27.8 million in funding this year

Odaily星球日报 · 2022-11-25T01:15:01.000Z

Odaily Planet Daily News Argentinian cryptocurrency application Lemon Cash has laid off about 100 people, accounting for 38% of its total employees. Lemon Cash revealed that it completed a US$27.8 million Series A expansion round of financing this year. DST Global, Valor Capital, GoodWater Capital, CMT Digital and Cadenza participated in the investment, and the total Series A financing amount reached US$44 million. In addition, Lemon Cash CEO Marcelo Cavazzoli said that FTX Ventures participated in its Series A expansion round of financing in a very small proportion, and Lemon also held a negligible amount of funds in Alameda, which is not expected to be withdrawn. Cavazzoli emphasized that FTX’s bankruptcy will have no impact on Lemon users. (The Block)

Odaily Planet Daily News: Argentine cryptocurrency application Lemon Cash has laid off about 100 employees, accounting for 38% of the total number of employees. Lemon Cash revealed that it completed a $27.8 million Series A extension round of financing this year, with participation from DST Global, Valor Capital, GoodWater Capital, CMT Digital and Cadenza, bringing the total Series A financing to $44 million. In addition, Lemon Cash CEO Marcelo Cavazzoli said that FTX Ventures participated in its Series A extension round of financing with a very small proportion, and Lemon also holds a negligible amount of funds in Alameda, which is not expected to be recovered. Cavazzoli emphasized that FTX's bankruptcy has no impact on Lemon users. (The Block)