Polygon CEO Announces Additional Job Cuts Amid Coinme Acquisition Finalization on Thursday

According to Marc Boiron, CEO of Polygon Labs, the company announced additional layoffs on Thursday as it finalizes its $250 million acquisition of cryptocurrency exchange Coinme and wallet infrastructure platform Sequence, announced in January. Boiron stated on X that the move reflects Polygon's transformation "from operating as a blockchain foundation into operating as a blockchain-enabled payments company." The cuts follow multiple rounds of layoffs over the past three years affecting more than 200 employees. Polygon did not immediately disclose the specific number of positions affected in this round.
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