Qredo has laid off about 50 employees to save approximately 35% of annual expenses.

BlockBeats News, September 4th - According to sources cited by The Block, Qredo, a provider of crypto infrastructure, has significantly downsized and laid off approximately 50 employees, including executives such as Chief Product Officer Gabriele Farei and Chief Information Security Officer Asen Taskov. The downsizing will result in a savings of approximately 35% in annual expenses, and the adjusted number of employees will be around 130.