Digital assets company Paxos laid off 65 people, reducing staff by 20%. CEO Cascarilla states layoffs enable focus on tokenization & stablecoin, affirming strong financial standing.
Paxos, holding a $500 million balance sheet, faced setbacks like New York DFS halting BUSD minting in 2023. Despite this, partnered with PayPal for a stablecoin release.
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