GSR layoffs — Oct 11, 2022

GSR cuts staff on October 11, 2022 as crypto market maker trims workforce amid market downturn

Crypto market maker GSR cut staff on October 11, 2022, according to reporting surfaced in Google News. The company did not disclose how many jobs were eliminated or what percentage of its workforce was affected.

The layoffs came during a broader downturn in the crypto industry, with firms across the sector reducing headcount as trading activity and market conditions weakened. GSR’s move was described as part of the ongoing crypto winter.

GSR is a market maker in the digital asset industry, providing liquidity and trading services across crypto markets. Market makers typically help facilitate buying and selling by quoting prices and supporting market depth for tokens and exchanges.

No direct quote from company officials was included in the source material, and GSR did not publicly disclose further details about the size or scope of the cuts. The company’s next steps were not specified in the available reporting.

Sources: Google News