Golden Finance reported that crypto custody software provider Fireblocks laid off employees after restructuring. The company confirmed that 21 people were affected, accounting for less than 3% of the total employees, and said that all affected employees received severance pay.
Fireblocks is one of the most well-funded startups in the cryptocurrency industry, having raised about $1.2 billion from investors such as Sequoia Capital and Coatue Management. The company was last valued at $8 billion in a round of financing in January 2022, and acquired Australian blockchain startup BlockFold for about $10 million in 2023.
