Wyre’s ‘downscaled’ operations during Cryptowinter: CEO

Ioannis Giannaros, CEO of crypto payments company Wyre, reportedly told employees in an email that the company is going into liquidation and will be shutting down services this month. Axios.

Citing two anonymous employees as sources, recent layoffs According to the report, posted on LinkedIn, Giannaros downplayed the shutdown allegation in a follow-up email, stating, “We are still open but will be scaling back to plan our next steps.” increase.

Giannaros declined to comment on the alleged former employee’s allegations.yet” offered a severance pay.

Decryption has reached out to Wyre for comment and will update this article when we hear back.

WIRE, which celebrated its 10th anniversary this year, $1.5 billion At least, that was the price agreed upon in last April’s acquisition by one-click checkout provider Bolt, before the deal closed. discarded in September.

The two companies agreed to remain partners and entered into a “Commercial Agreement”. […] Implementing Wyre’s one-click solution on the Bolt customer platform. ”

Crypto winter dismissal

The industry is uneasy about the prospect of further layoffs amid the ongoing crypto winter. ever since Terra’s Fall When the industry entered a sustained bear market last May, many of the top companies have made significant job cuts.

Recently, due to the ripple effect of the bankruptcy of the virtual currency exchange FTX, Bybit, SwytfxWhen coinleywhile exchanging coin base When crypto dot com There have been multiple layoffs since the summer.