Ninety Eight announces layoffs, affecting over 20% of its employees

Thanh Le, founder of crypto company Ninety Eight (formerly Coin98 Finance), announced layoffs on X platform, stating that over 20% of employees were affected by the layoffs. Thanh Le said, "In order to keep up with the pace of the market, we need a more streamlined, agile, and adaptable team." In addition, Le stated that the company will also focus its resources on core products, Coin98 wallet is of utmost importance.