Novogratz's Galaxy Digital May Cut 20% of Workforce

Galaxy is planning to lay off 15-20% of its workforce, potentially affecting up to 75 employees. This comes after a period of hiring, marking a significant shift in strategy. The company's stock has dropped over 70% this year, and a previous acquisition plan fell through. Galaxy's upcoming financial reports are anticipated, with interest in their liquidity position and potential areas for cost-cutting. The broader crypto industry is also experiencing job cuts, raising questions about the future employment landscape in this sector.

What percentage of their workforce is Galaxy planning to lay off?

What was the stock performance of Galaxy this year?

How many positions could potentially be affected by the layoffs at Galaxy?

What was the liquidity position of Galaxy as of June 30th?

Which other companies are mentioned as part of the job cuts in the crypto industry?