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Hey there, it's me, Zach Seward. You're watching CoinDest TV. We're the hash. We're glad you're here.

I'm joined by Adam Levine, Jensenassie, and Will Foxley, Will Foxley has a story about some bare market things. Will, start us off.

It's not a story you want to start the day with, but nonetheless, very important. Nydig has laid off 33% of its staff as of September 22nd, according to a new report from the Wall Street Journal that came out yesterday.

This is big news because NIDIG has a very important place within a lot of different parts of

the cryptocurrency ecosystem. They're well known for their large raises, trying to bring Bitcoin

to the masses via banks. Not sure if that really panned out. According to some quotes within this report,

there's a lot of confusion over what NIDIG was trying to do. There wasn't a lot of implementation,

and now they've laid off about 110 staff. Interesting things about this report is that

there's not really a lot of clear information from the executives about like how this layoff occurred

or why it occurred and when it occurred. It just sort of was trickled out there. And that's why we

have a report and not necessarily like a blog post from Nidig itself. Zach, I want to throw this one

over to you, Nidig has been a big player during the bull market 2021. And to see this layoff, it's not surprising. We're going

to a bear market, but it is surprising because Nighting has a lot of money. I think there is like

$1.4 billion in total. Yep. And now they're cutting back. 100 folks out the door, some good reporting

from Tracy Wong, Danny Nelson, and a couple others on the coin desk side to advance this story,

...