Polygon Labs Cuts Staff Amid Blockchain Payments Shift

Polygon Labs has announced new layoffs as part of its transition to a blockchain payments company. The move comes after the finalization of a $250 million acquisition deal for Coinme and Sequence, according to Polygon Labs CEO Marc Boiron.

The exact number of employees affected by the layoffs was not disclosed, but previous rounds over the past three years have impacted more than 200 staff members.