Crypto platform Binance laid off 1,000 employees

Crypto platform Binance laid off 1,000 employees


Image: Michael M. Santiago (APA/AFP/GETTY IMAGES/Michael M. Santiago)

The company could cut more than a third of its workforce, the Wall Street Journal reported on Friday. A number of high-ranking managers had left the company in the past week, including chief strategist Patrick Hillmann.

US authorities accuse the company and its CEO Changpeng Zhao of having set up a “net of deception”. Binance had announced that it would vigorously defend itself against the allegations.

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