BlockFi begins second wave of layoffs

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Crypto lender BlockFi, despite the loan from the FTX exchange, is preparing its staff to optimize its staff and offers employees paid leave with insurance for voluntary dismissal.

BlockFi employees, subject to voluntaryThose terminating their contract will be able to receive ten weeks of paid vacation and ten weeks of health insurance. A BlockFi representative said that the company assured employees that if those who wish to accept this kind of compensation, they will have the opportunity to freely search for work during their vacation. 

“BlockFi has initiated a voluntary programlayoffs to bring the organization into line with current market conditions. This is an informed decision, and we are committed to providing our former employees with the resources they need to make a slow and thoughtful decision about their new employment,” the company officially announced.

 

The company has already launched a second wave of layoffsa month after it laid off 20% of its employees. A $400 million loan received a few weeks ago from FTX failed to improve BlockFi's financial situation. However, company CEO Zac Prince continues to claim that the company is doing well. He said BlockFi should not be compared to its insolvent competitors such as brokerage Voyager and lender Celsius. The CEO added that the company is launching new projects.

Let us remind you that the rumors about the purchase of the BlockFi credit service by the FTX.US crypto exchange turned out to be true. The transaction amount is more impressive than the rumored $25 million: $680 million.