This loss of $1 billion in assets led to a 75% loss in revenue and 200 layoffs – two-thirds of its workforce – at the U.S.-incorporated arm of Binance. This reduction in headcount has impacted the exchange’s ability to respond to discovery requests from the SEC because teams are stretched thin. https://www.bnnbloomberg.ca/polopoly_fs/1.2001195.1700502589!/fileimage/httpImage/image.jpg_gen/derivatives/landscape_620/p-the-case-is-one-of-the-largest-investigations-the-justice-department-has-ever-conducted-into-a-cryptocurrency-company-p.jpg
NOTE: It's unfortunate to hear about the loss of $1 billion in assets, which has had a significant impact on the revenue and workforce of the U.S.-incorporated arm of Binance. The 75% loss in revenue and the resulting 200 layoffs, which account for two-thirds of the workforce, are undoubtedly challenging for the company.
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