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Radical Cuts Ahead! ‘DeFi Darling’ Dumps 1 in 7 Employees Like Yesterday’s Trash Because, You Know, Refocusing Is Code for We Ran Out of Money

A comic-style illustration depicting a large trash can with 15% of its contents (represented by small figures) being dumped out, while the remaining employees look on in shock and concern. In the background, a Radix logo is seen amidst flames or sparks, symbolizing change and upheaval.

Radix’s latest round of layoffs is just another nail in the coffin of this DeFi dumpster fire.

Source: cointelegraph

RDX Works, the team behind the Radix decentralized finance (DeFi) platform, has axed 15% of its workforce, citing a need to lower costs. The Radix network launched its mainnet in July 2023 and offers developer tools to build and run decentralized applications (DApps) and financial services on the blockchain. Piers Ridyard, the company’s CEO, confirmed in an Aug. 29 statement in the company’s official Telegram group that the staff cuts are to “refocus” and are […]

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