**Crypto Industry Faces Major Layoffs Amid Restructuring**

The crypto sector is seeing significant job cuts. Consensys, a blockchain development firm, has reduced its workforce by over 20%, affecting 162 employees. CEO Joe Lubin confirmed the layoffs.

Kraken, a crypto exchange, has also cut 15% of its staff, nearly 400 people. This follows a previous layoff of 1,100 employees in November 2022.

Decentralized exchange dYdX dismissed 35% of its staff, with CEO Antonio Juliano hinting at a new direction for the company. Nova Labs, behind Helium Mobile, also cut 36% of its workforce to focus on its core cellular business.

In other news, Coinbase shares dropped 3.7% after missing Q3 earnings expectations. Reddit sold most of its Bitcoin and Ether holdings, raising $6.87 million. Kraken appointed Arjun Sethi as co-CEO amid layoffs. Circle raised fees for large-scale USDC redemptions, impacting institutional investors.

Stay tuned for more updates on the evolving crypto landscape.