🚨 Paxos, a major player in the crypto world, has reportedly laid off 20% of its staff, reducing its headcount to between 200-300. The company is refocusing its efforts on the tokenization and stablecoin market, with over $500 million on the balance sheet. 🌐 Paxos International, a UAE-regulated subsidiary, recently launched Lift Dollar (USDL), a regulated yield-bearing stablecoin. The launch will see Paxos partnering with global crypto exchanges to deliver daily yield to user wallets. 📈 What are your thoughts on Paxos' strategic shift? Let's discuss below! 👇