Bitcoin Company NYDIG Lays Off About A Third Of Its Workforce: Report

NYDIG, a unit of Stone Ridge Holdings, operates a full-stack bitcoin platform which delivers the cryptocurrency across industries including financial technology, insurance and banking.

Bitcoin company NYDIG laid off about a third of its workforce last month to cut costs, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

NYDIG, a unit of Stone Ridge Holdings, operates a full-stack bitcoin platform which delivers the cryptocurrency across industries including financial technology, insurance and banking.

The company laid off around 110 people on Sept. 22, weeks before replacing its top two executives, the WSJ reported.

NYDIG did not immediately respond to a Reuters request for comment.