This company has also decided to lay off about 1000 employees. The biggest reason for this layoff in company is the issues related to Federal Investigation and Regulatory in America.
For the last one and a half year, layoff is going on in all the startups. The biggest reason for this is that these startups are facing difficulty in getting Startup Funding. Meanwhile, crypto company Binance has also decided to lay off about 1000 employees. Although this retrenchment has happened at the global level, but many employees of India have also been affected by this retrenchment.
The biggest reason for this layoff in Binance is the issues related to Federal Investigation and Regulatory in America. The company is currently going through a difficult phase, due to which a major layoff has been decided. According to American media reports, about 3 dozen customer-service employees in India have been affected by this retrenchment. It is also being said in many media reports that due to this retrenchment, the number of employees of the company has reduced by about one-third.
Many officers have also resigned
Many officials had also resigned from this crypto company in the past. These included a Chief Strategy Officer General Counsel and a Chief of Investigations. Right now there is news of retrenchment of about 1000 employees in media reports, but some reports say that this figure could be bigger.
The company is embroiled in controversies
At present this company is embroiled in a huge controversy. In the US, an investigation is going on by the Justice Department against this crypto exchange and its CEO Changpeng Zhao. There is a serious allegation against the company and the CEO that people are being fooled by creating a web of deception.
In the month of June, the US Securities and Exchange Commission filed a case against the exchange and its CEO. The company was accused of violating federal securities laws by offering unregistered securities to the general public.
