Paxos Lays Off 20% of its Workforce
Main page News

Despite its strong financial situation, Paxos has decided to lay off approximately 20% of its staff.

The company's co-founder and CEO, Charles Cascarilla, has communicated in a mail to employees the difficult decision to reduce the number of employees by approximately 20%, directly affecting 65 team members.

Cascarilla has said this will allow the company to better focus on tokenization and stablecoins, with a strong balance sheet of more than $500 million.

Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world

Employees affected by the layoffs have received a severance package of 13 weeks' pay, subsidized health insurance for three months, outplacement support for three months and an extension to exercise vested options for two years.

Please describe the error
Close