Abra Becomes Latest Crypto Firm to Cut Jobs

Jul 01,2022
KingData News: Abra, a crypto trading and lending platform, slashed a dozen jobs this week. Abra CEO Bill Barhydt said that the firm has cut 12 jobs "purely as a cost-saving measure." That translates to around 5% of the total workforce. Barhydt said while Abra has cut certain jobs the firm is still looking to hire for various roles. He declined to comment on specific functions but said around 10 positions are currently open. Abra is backed by venture capital investors, including Blockchain Capital, CMT Digital Ventures and Kingsway Capital. Last September, the firm raised $55 million in Series C funding and was valued at around $500 million at the time.
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