The spherical of layoffs was a part of Polygon transitioning operations to funds following a $250 million deal to accumulate Coinme and Sequence in January.
Marc Boiron, CEO of Polygon Labs, introduced further layoffs as the corporate finalizes its acquisition of cryptocurrency alternate Coinme.
In a Thursday X put up, Boiron stated that Polygon would say “goodbye to a lot of [its] colleagues” as the corporate started the “transformation from working as a blockchain basis into working as a blockchain-enabled funds firm.” The transfer was a part of a $250 million deal introduced in January for Polygon to accumulate Coinme and pockets infrastructure platform Sequence.
“These modifications are concerning the firm we’re constructing, not the standard of the folks leaving,” stated Boiron. “A blockchain basis and a blockchain-enabled funds firm don’t function the identical means. This transition means altering how we’re organized and the expertise we’d like, not simply what we construct.”
Learn extra