THE HASH: DCG-Owned Luno Cuts Staff by 35%; Genesis Seeks $20.9M From 'Bitcoin Jesus'

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4.7 • 698 Ratings

🗓️ 25 January 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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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 - This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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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