Polygon Labs Announces New Round of Layoffs Amid Coinme Acquisition Push

Polygon Labs has announced another round of layoffs as it enters the final stage of acquiring cryptocurrency platform Coinme. The company is transforming its business from blockchain infrastructure development to digital asset-based payment solutions.

The announcement was made by Polygon Labs CEO Marc Boiron, who said that the integration of Coinme's team is part of a broader restructuring effort aimed at making the company profitable by 2027.

Polygon Labs did not disclose how many employees were affected by the layoffs but stated that impacted workers will receive severance packages and transition support.