According to TechFlow, the encrypted payment infrastructure company MoonPay has laid off 10% of its employees.

In the email, MoonPay co-founder and CEO Ivan Soto-Wright said that while the company was cash flow positive, its cost structure was too high. The email did not specify the number of employees affected, but according to LinkedIn records, given that MoonPay currently has about 300 employees, 10% seems to be about 30 people.