Genesis loses four senior executives

Following a company layoff and a change in leadership, employees of the digital currency lending service are leaving amid the “crypto winter”.

Crypto brokerage Genesis has seen four of its senior executives leave the company.

Co-head of sales and trading Matt Ballensweig took to Twitter to announce his departure after working for the organisation for more than five years.

“Over the last month, I’ve started transitioning my core responsibilities to a handful of trusted colleagues who will step up to run our front-line businesses”, he wrote.

Head of derivatives Joshua Lim, head of cash trading Reed Werbitt, and managing director of trading Michael Paleokrassas have also left their positions with Genesis amid the current market downturn.

Their decision to leave the company follows shortly after the New York based firm announced a 20% company layoff causing the departure of its head of market insights Noelle Acheson.

Not only was it the playoffs that didn’t bode well with employees but last month the company introduced a new leadership team.

In August, former Genesis CEO Michael Moro stepped down, and its COO Derar Islim took over the position.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2B journalism. Alongside crypto, Isabella writes about relationships and psychology. Isabella holds a first-class degree in music journalism and likes to interview electronic artists and DJs.

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