Genesis CEO Steps Down as Firm Cuts 20% of Workforce

0 0

Genesis CEO Steps Down as Firm Cuts 20% of Workforce
iHodl.com

Cryptocurrency trading broker Genesis has announced that its head, Michael Moro, is stepping down and will advise the company through the transition. The broker said in a press release on Wednesday that its Chief Operating Officer, Derar Islim, will now lead Genesis as new CEO.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Besides leadership reorganization, Genesis told The Block in a commentary that the firm had reduced workforce by 20% to focus on “strategic priorities.” The firm declined to elaborate on which departments faced reorganization. Among Genesis’ new priorities are risk hedging, regulatory compliance, and technology.

Genesis Reveals Exposure to Three Arrows Capital

The move comes after Genesis under Moro’s lead lent $2.36 billion to crypto hedge fund Three Arrows Capital (3AC) which eventually went bankrupt.

Access more than 50 of the world’s financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Источник: ru.ihodl.com

Оставьте ответ

Ваш электронный адрес не будет опубликован.