MoonPay, a leading cryptocurrency payment provider, has announced the layoff of 10% of its workforce to address high costs and low operational efficiency. CEO Ivan Soto-Wright confirmed that around 30 employees will be affected by this decision.
The layoffs come as MoonPay aims to improve its cost structure and fortify its foundation. Despite the reduction, the company continues to innovate, launching a Web3 platform and partnering with industry giants like Binance.US and MasterCard.
MoonPay, valued at $3.4 billion, offers compensation and potential equity to laid-off employees, ensuring their future participation. The company’s strategic workforce reduction is expected to pave the way for sustained growth and enhanced market position in the competitive crypto industry.
