Blockfi separates from the head of the US trade

Von Krypto News Österreich

Blockfi
  • The investment company recently reduced 20 % of the workforce and received an emergency infusion of cash from the FTX crypto exchange to strengthen its battered balance
  • The layoffs take place in the middle of a number of similar measures by other companies that concentrate on digital assets and were hit hard by sliding cryptoma markets

The investment company Blockfi, which focuses on digital assets, has separated from its head of the US trade, according to two sources with knowledge of the matter.

The move took place during a widespread crypto departure, which partially prompted the asset manager to release 20 % of its employees and to receive a considerable emergency level infusion from the FTX crypto exchange in order to stabilize his business.

Jason Wilkinson led the US trade team from Blockfi and previously worked for more than a decade as a senior trader at Two Rivers Trading. Wilkinson refused to comment.

A blockfi spokesman rejected a statement. Anonymity was granted to the sources to discuss sensitive business relationships.

A headhunting source that, for fear of leaving blockfi, asked for anonymity, said that Wilkinson should have "little problems" to get a new job-despite a suddenly difficult hiring market because companies such as Coinbase and Babel Finance dismantle-in view of his deep tradition.

Wilkinson was the only departure from the company's 12-member trading team, and the global director of trading desk and the head of the Asian-Pacific trade remain in the company, said one source. The team maintains trade around the clock, without interruption for the customers, added the source.

Last week

Blockfi received a revolving credit line of $ 250 million from FTX, whose founder Sam Bankman-Fried has invested in both crypto and traditional assets to award loans to save companies deeply under water from the market swing.

While Bankman-Fried said that his motifs were altruistic, Brockworks said that his efforts-and his risk capital company Alameda Ventures-put his efforts into a first-class position to acquire shares in struck companies or to acquire them directly.

The founder, one of the most prominent in the field of digital assets, said that he had no daily participation in Alameda Ventures.

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The contribution "Blockfi separates from the head of the US trade" is not a financial advice.