Binance to Lay Off 20% of Workforce This Month Amid Regulatory Scrutiny
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Binance, the world’s largest cryptocurrency exchange, is planning to lay off 20% of its workforce in June. The layoffs come amid growing regulatory pressure on the cryptocurrency industry. Binance CEO Changpeng Zhao said that the layoffs are necessary to “focus on talent density.” He said that the company is “overstaffed” in some areas and that the layoffs will help to “ensure that we are best positioned for long-term growth.” The