Israeli blockchain group will dismiss personnel
First Digital Assets Group undergoes a major restructuring process and will therefore dismiss most of its employees
The Israeli company First Digital Assets is responsible for several firms based on the blockchain technology ecosystem. It announced that it will merge four of them – K1, Stamina, Titan and Knox – into its parent company, while One Alpha, dedicated to research, will stop operating.
The company argued the drastic decision and reduction of personnel is due to the difficult conditions of the current market so it is forced to reduce costs.
For its part, sources close to the consortium mentioned that the restructuring of personnel will take place in the near future and will be carried out progressively. To date, the company has not expressed itself regarding the amount of personnel that will be withdrawn, although the reality indicates that the process has already begun.
First Digital Assets was founded in 2017 and at the time it stood out as one of the largest companies based on blockchain in the whole country. The firm had 65 employees, 60 of them Israelis. The founders and employees are Israelis although the company is registered in Gibraltar.
L.Sáenz
Source: Coincrispy
