Crypto.com Reportedly Reduces Workforce Since Initial Layoff Announcement; Canaan Sees ‘Prolonged Headwinds’ After Challenging Quarter

Crypto exchange Crypto.com has laid off hundreds more employees since the initial layoffs in June, according to The Verge. Bitcoin mining rig maker Canaan said tougher market conditions will hurt its financial performance near-term after a difficult second quarter. Cowen analyst Stephen Glagola downgrades his rating on bitcoin miner Stronghold Digital.