THE HASH: DCG-Owned Luno Cuts Staff by 35%; Genesis Seeks $20.9M From 'Bitcoin Jesus'
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 25 January 2023
⏱️ 21 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Wednesday, Jan. 25, 2023.
"The Hash" discusses today's top stories, including crypto exchange Luno cutting 35% of its workforce, citing the "incredibly tough year" affecting the crypto market. Separately, a unit of Genesis Global, the crypto lender that filed for bankruptcy protection in New York last week, claims Roger Ver – sometimes referred to as “Bitcoin Jesus” based on his early evangelism for the industry – failed to settle cryptocurrency options trades.
Disclaimer: Digital Currency Group is the parent company of Luno, Genesis, and CoinDesk.
See also:
'Bitcoin Jesus' Says He Has the Money to Pay Ailing Crypto Lender Genesis
Crypto Exchange Luno Cutting 35% of Its Staff
Crypto Exchange Luno's Co-Founder Departed in December
Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B
Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled
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This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:10.4 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more with stories that matter to the crypto world. |
| 0:17.8 | All on the hash for your ears. |
| 0:21.2 | You're listening to the Coin Desk podcast network. |
| 0:27.2 | Hey there, welcome to CoinDest TV. |
| 0:29.1 | I'm Zach Seward. |
| 0:29.8 | You are watching The Hash. |
| 0:31.1 | I'm joined right now by Wendy O. |
| 0:32.6 | and Will Foxley. |
| 0:33.9 | We hope that you are wearing warm clothes because we have a very wintry mix of crypto |
| 0:38.6 | stories out here today, starting with some layoff news from Will. What do you got? |
| 0:43.8 | That's right. Global crypto exchange, Luno, is laying off about 35% of its staff, part of Barry |
| 0:49.3 | Silberts, DCG Empire. Luno, it has offices in Singapore, London, and elsewhere around the globe. This is pretty |
| 0:56.4 | bad news, just adding more to the layoff story that we've been covering for quite a while. There's |
| 1:00.7 | been about 29,000 layoffs, according to CoinDesk's own numbers since the beginning of the |
| 1:05.8 | crypto bear market earlier last year. So just more numbers. In terms of headcount, number seems to be a bit all over |
| 1:12.0 | the place. Some numbers showing that Luno has about 900 employees and now trimming about 300 |
| 1:16.8 | staff, others showing that there's about 600 employees and trimming down about 200 staff. So we don't |
| 1:21.4 | quite know for sure. But 35% is a pretty wide margin. Lunow has about 10 million different |
| 1:26.9 | users around the globe, |
| 1:28.2 | and they service different crypto assets via its exchange product. Of course, this is just part of |
| 1:33.4 | DCG's empire. They also own a coin desk, Genesis, foundry, and a few other firms such as |
... |
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