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MoonPay Trims Workforce in Response to Crypto Market Surge: Past Investments Prove Costly

MoonPay, a prominent player in the cryptocurrency payments processing industry, has announced a reduction of 10% of its employees. The decision was made in light of the company's struggle to maintain profitability amidst a bullish market for cryptocurrencies. Despite previous claims of financial stability and long-term sustainability, MoonPay has been forced to make difficult choices due to high operating costs and lower-than-expected profit margins.