Crypto company Qredo lays off another 50% of its staff, and its financial situation can only last for six months

According to sources, Qredo, a provider of encrypted custody infrastructure, is currently facing financial difficulties and has once again laid off 50% of its employees. Its financial situation can only be maintained for about six months, and in September, Qredo laid off about 50 employees. The additional layoffs continued until the end of last month, and the company currently has about 50 employees, down from over 200 earlier this year. Qredo is actively seeking new funding and exploring strategic acquisition opportunities to stay afloat. Dan Tapiero's 10T Holdings, the main investor in Qredo's Series A financing, is helping with these efforts. (The Block)

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