- Binance, the giant crypto exchange, is laying off over 1,000 employees amid federal investigations and regulatory crackdowns.
- The cuts are global and could result in Binance losing more than a third of its staff.
- The Securities and Exchange Commission has sued Binance, alleging illegal operations and misuse of customer funds.
- Binance's biggest challenge is a continuing investigation by the Justice Department.
- The exchange is eliminating its physical presence in the U.S. and relocating or laying off about 150 people.
Binance Lays Off Over 1,000 Employees
Crypto exchange reduces workforce as Justice Department investigation continues
Patricia Kowsmann an
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