According to Blockworks, Fireblocks, a custody platform once valued at $8 billion, laid off 21 employees this week, accounting for 3% of the total number of employees. Previously, Polygon Labs announced on February 1 that it had terminated its contracts with 60 employees. Both companies said that the layoffs were due to efficiency considerations rather than financial pressure. Fireblocks said the layoffs were part of the reorganization of its marketing and customer support business to create a "more efficient and streamlined service." At the same time, Bitcoin mining company Hut 8 announced that current president Asher Genoot will become the new CEO, replacing Jaime Leverton, who has served as Hut 8 CEO since December 2020.