Binance US' 75% Loss Leads to Massive Layoffs

Binance US, the US-based entity separate from its global parent company, has announced a significant reduction in its workforce. Approximately 200 employees will be laid off, representing two-thirds of its staff. This decision follows actions taken by the Securities and Exchange Commission (SEC) last year, as reported by Coindesk. Financial Impact and Legal Challenges According to a recent court filing, the crypto exchange revealed that it experienced a significant outflow of assets totaling $1 billion from its platform following the SECs temporary restraining order (TRO). This...


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