The Indian startup ecosystem is feeling the reverberations of the global tech turbulence wrought by inflationary pressures and high interest rates, which have pummelled technology stocks since the start of the year.
Cascading effect of FTX bankruptcy: AAX, Blockfi suspend withdrawals; Bitcoke users face withdrawal problems.
Singapore-based Sea Ltd has laid off more than 7,000 employees, or around 10% of its workforce, over the past six months, the Information reported on Monday, citing two people with knowledge of the matter.
"The lay off will focus on the e-commerce giant's devices unit, which houses voice-assistant Alexa, as well as its retail division and human resources, according to the report, which also said the total number of layoffs remains fluid," as per media reports.
Crypto.com tweeted that its chief executive Kris Marszalek will go live on YouTube to answer questions around some transactions on the platform that had sparked speculation and fund withdrawals.
According to a report by Cointelegraph, the former FTX CEO is under supervision in Bahamas.
Twitter's new verification rules and the consequent mushrooming of fake 'verified' accounts has cost companies millions of dollars. Companies including Eli Lilly and Lockheed Martin lost millions in value.