MoonPay layoffs — Mar 30, 2023

MoonPay cuts dozens of jobs on March 30, 2023 amid crypto market downturn

MoonPay dismissed dozens of employees in March 2023 as the crypto industry continued to face a broad market downturn. The fintech company announced the layoffs on 2023-03-30, according to Google News coverage of the event.

The company did not disclose the exact number of jobs cut, and it also did not provide a percentage of its workforce affected. The layoffs were described as part of a market-driven response rather than a restructuring tied to product changes or a specific internal issue.

MoonPay is a fintech company known for providing crypto payment and on-ramp services that help users buy digital assets. The job cuts came during a period when many crypto firms were reducing headcount after a prolonged decline in market activity and funding conditions.

No direct quote from MoonPay officials was included in the source text provided. The company’s outlook was not detailed in the source, beyond the implication that the layoffs were linked to wider market conditions.

Sources: Google News