Genesis CEO Michael Moro Steps Down Amid 20% Staff Cuts And 3AC Losses

Summary: Michael Moro has left his role as the CEO of beleaguered crypto broker Genesis. Moro’s exit was announced alongside a 20% cut in the company’s workforce. Some 52 employees out of 260 staff are expected to leave Genesis starting Wednesday. Chief Operating Officer Derar Islim was appointed interim CEO as part of an ongoing restructuring plan. The crypto broker previously disclosed its exposure to Three Arrows Capital and filed a $1.2 billion claim against the crypto hedge fund. Crypto […]