Crypto Derivatives Firm Paradigm Decides to Cut Salaries Across the Board by 15%

Crypto derivatives firm Paradigm announced its decision to cut salaries across the board by 15% this week. Paradigm said the decision was driven by FTX's collapse, and salary cuts reduce the need for layoffs seen across the ecosystem and have a lesser impact on organization.

Paradigm provides a platform for traders and market makers to execute block trades in options and futures. Previously, Paradigm closed a $35 million Series A round led by Alameda Ventures and Jump Capital in October 2021.