NYDIG lays off one-third of staff

Bitcoin financial services company NYDIG has laid off around 110 people, about 33% of its staff.

The NY-based startup, which is building “an inclusive financial system that makes bitcoin a universal option for billions of people worldwide,” has raised over $1.4 billion from a variety of investors including New York Life, MassMutual, Liberty Mutual, and Starr Insurance.

Earlier this month, NYDIG announced that CEO and co-founder Robert Gutmann and president Yan Zhao were exiting the startup to focus on Stone Ridge Holdings Group, the parent company of NYDIG.