Genesis Global Trading, a cryptocurrency loan firm, has laid off another 60 individuals, accounting for approximately 30% of its staff.

The layoffs follow a 20% reduction in the company’s staff last year, which left it with roughly 145 employees.

According to a representative of Genesis, the business is navigating unprecedented industry headwinds and has made the painful choice to cut its personnel worldwide.

CTA block | Explore Deeper Industry Insights

News of the layoffs came after Genesis sent out a letter to customers promising to cut costs and find ways to improve efficiency as the sector faces the aftermath of FTX.

Genesis, a division of cryptocurrency conglomerate Digital Currency Group, was even trying to raise cash for its lending business, according to Bloomberg.

The year 2022 was the year of layoffs. Even large corporations did it. However, Genesis is still doing it at the start of 2023.

Milena Moon is the head of media projects in the marketing department of the B2BROKER Group. Milena's career began in 2018 as a freelance social media journalist. Since then, she has sought out and written about the latest crypto trends, from news in the sector to educational articles that help newcomers immerse themselves in the crypto industry in the easiest way possible. Milena also has experience and education in the TV industry, which help other B2BROKER projects thrive.

Milena Moon is the head of media projects in the marketing department of the B2BROKER Group. Milena's career began in 2018 as a freelance social media journalist. 

Milena Moon	

As a hard-working, goal-oriented, and well-rounded person, I always strive to do quality work for every job I do. Faced with challenging tasks in life, I have developed the habit of thinking rationally and creatively to solve problems, which not only helps me develop as a person, but also as a professional.

Speaking about my professional activities, I can say that I have always been attracted to the study of foreign languages, which later led me to the study of translation and linguistics. Having great experience as a translator in Russian, English and Spanish, as well as good knowledge in marketing and economy, I successfully mastered the art of copywriting, which became a solid foundation for writing articles in the spheres of Fintech, Financial markets and crypto.

Constantine Belov

Genesis Has Laid Off Its Workforce, Reducing It by 30%

Seasoned copywriter with a focused expertise in crypto and fintech, adept at translating complex industry jargon into clear, engaging content. Driven by my mission to illuminate the intricacies of the crypto and fintech industries, my commitment is to create and deliver content that educates, engages, and empowers. I strive to foster understanding, inspire confidence, and catalyze growth in these dynamic sectors, contributing to the forward momentum of our digital financial future.

Seasoned copywriter with a focused expertise in crypto and fintech, adept at translating complex industry jargon into clear, engaging content. 

Anton Boykov

By using this site you thereby agree to our terms of use of cookies as set out in our 

Contact form

Footer for Header 03.09.2025

Understand the use case of stablecoins for businesses. Increase speed, reduce costs, and future-proof your infrastructure with the right tools.

Stablecoin Use Cases: The Complete Guide for Businesses in 2025

The first fully integrated Turnkey Liquidity Provider solution empowers financial institutions to establish their own Prime-of-Prime liquidity operations.

B2BROKER Launches First-Ever Institutional Liquidity Provider Turnkey Solution

Rumors abound that LG CNS, a subsidiary of LG, is assisting Bithumb in developing its NFT marketplace, which is expected to start in 2022. 

Korean Bithumb Exchange to Launch NFT Marketplace

B2BROKER, a liquidity and technology provider of solutions for the crypto and foreign exchange (FX) industry, reached a major milestone with its expansion plans back in June 2018 with the launch of its new Cyprus office aimed at servicing its clients across the European region.  