Matter Labs Restructures, Cuts 16% of Workforce Amid Strategy Shift

Matter Labs, a key player in the crypto industry, is restructuring, resulting in a 16% workforce reduction. The decision, made to align with evolving market demands and internal strategy shifts, was difficult but necessary, according to the CEO Alex Gluchowski. Departing employees will receive a comprehensive exit package, including salary continuation, healthcare, career support, and…

Read More

Wazirx Files for Moratorium in Singapore Court to Address Users’ Crypto Balances

Indian crypto exchange Wazirx has announced that a moratorium has been filed in Singapore’s High Court under the Insolvency, Restructuring and Dissolution Act to address users’ crypto balances. The move aims to provide a 30-day relief period for Wazirx to reorganize liabilities through a scheme of arrangement. The Singapore court will determine the duration of…

Read More

Wazirx Defends Restructuring Decision — Founder Assures ‘Not Bankruptcy or Liquidation’

Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address these challenges. “This is not bankruptcy or liquidation since that will take several years,”…

Read More