Paxos cuts 20% of workforce amid strong financials due to ‘de-prioritizing adjacencies’
Stablecoin issuer Paxos downsized its workforce by 20% despite robust finances and optimistic growth projections in the stablecoin market, Bloomberg reported on June 12. Paxos International, the company’s UAE-based affiliate, announced the launch of a yield-bearing stablecoin called Lift Dollar…