According to a December court document released on Tuesday, Binance.US Chief Operating Officer Christopher Blodgett revealed that since June last year, due to the actions of the US SEC, Binance.US has had to lay off more than 200 employees, accounting for 10% of its total workforce. of two-thirds.
"Binance.US's trading volume and business in general have plummeted," Blodgett said in his testimony, noting that the trading platform's revenue fell by about 75% after the SEC sought an injunction to freeze assets last June. .
Binance.US previously announced that it had laid off 100 employees in September last year and that CEO Brian Shroder had also left.
A spokesperson for Binance.US did not immediately respond to a request for comment. ("Fortune Magazine)