Crypto market maker GSR laid off staff in the third quarter of 2022, cutting less than 10% of its global workforce as part of structural changes to improve efficiency. With approximately 300 employees, this reduction impacted a portion of the team amid a prolonged crypto market downturn. The company stated the move was to position the business for long-term growth, focusing on technology and trading capabilities while navigating the challenging industry winter that has affected many crypto firms.
