📢 Paxos, the stablecoin issuer, has trimmed its workforce by 20%, letting go of 65 employees. But don't worry, it's not all doom and gloom! 🌤️

• CEO Charles Cascarilla assures us that this move is to capitalize on future opportunities in the tokenization and stablecoin sectors.

• The affected employees aren't left high and dry - they're getting 3 months of subsidized health insurance, 13 weeks of severance pay, and a two-year extension to exercise vested options.

• Despite the layoffs, Paxos is still financially robust with over $500 million on its balance sheet. 💰

Interestingly, this comes just after Paxos' UAE arm launched a new yield-bearing stablecoin, the Lift Dollar (USDL).

What are your thoughts on this move? Is it a strategic step towards a brighter future in the DeFi sector? Let's chat below! 👇 #Paxos #DeFi #Stablecoin