Qredo lays off about 50 people, expecting to save 35% on annual expenses

According to ChainCatcher news, citing sources from The Block, crypto infrastructure provider Qredo has significantly downsized, laying off around 50 people, including executives such as Qredo's Chief Product Officer Gabriele Farei and Chief Information Security Officer Asen Taskov.

The layoffs will save the company approximately 35% in annual expenses, with the adjusted employee count being around 130.