Media reports layoffs at Matrixport owned by Ji Han Wu

Matrixport, the crypto-lending platform owned by Ji Han Wu, will lay off 10% of its staff. This was reported by Bloomberg.

COO Matrixport Cynthia Wu said the company will continue hiring specialists in regulatory compliance and product development.

According to sources cited by the agency, the current wave of layoffs has predominantly affected the firm’s marketing department.

Journalists also learned of Damien Loh’s departure from the CEO role and Zi Wong’s departure from the head of business development and investor relations at Matrix Asset Management.

The COO of the digital-asset manager Yu Yi-Wun said there would be top-management reshuffles in anticipation of regulators reviewing the firm’s activities.

Since the start of 2023, reports of layoffs have surfaced at Coinbase, ConsenSys, Genesis Trading, Blockchain.com, Gemini, and Luno.

Earlier, in November 2022, Bloomberg reported that Matrixport to raise $100 million financing at a $1.5 billion valuation.

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