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Polygon Reportedly Slashes 30% of Staff After Massive $250M Payments Bet

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Polygon Labs has been reported to have already laid off a major quantity of its staff as the corporate continues to discover extra on the payments-first technique, following days they introduced acquisitions of as much as $250 million.

Although the corporate has not formally verified the extent of the layoffs, varied sources and posts on social media by staff indicate that as much as 30% of staff may need been impacted by the modifications and had been extra associated to post-acquisition integration and never monetary misery.

Polygon Aligns Teams Around Payments Vision After Coinme, Sequence Buyouts

The reported layoffs comply with Polygon’s announcement that it had agreed to acquire U.S. crypto funds agency Coinme and pockets and developer platform Sequence.

The two offers, collectively valued at greater than $250 million, are meant to kind the spine of what Polygon calls its “Open Money Stack,” a vertically built-in system designed to maneuver cash onchain utilizing stablecoins.

The technique marks a transparent narrowing of Polygon Labs’ focus, shifting away from broad ecosystem enlargement towards regulated funds infrastructure, wallets, and settlement rails.

Polygon CEO Marc Boiron framed the restructuring as half of a deliberate effort to sharpen the corporate’s mission.

In a put up on X, Boiron said Polygon had spent current months aligning round a single aim of shifting all cash onchain, and that the acquisitions introduced in groups with deep experience.

As these groups had been folded into Polygon, overlapping roles had been consolidated, resulting in troublesome staffing selections.

Boiron harassed that the modifications had been structural fairly than performance-based and mentioned whole headcount would stay comparable after the combination, although with a heavier emphasis on funds and pockets experience.

Coinme brings a nationwide compliance footprint that’s troublesome for crypto firms to construct organically.

The firm operates in 48 U.S. states and runs greater than 50,000 retail crypto ATMs and kiosks, giving Polygon entry to licensed fiat on- and off-ramps at scale.

Sequence, in the meantime, offers embedded wallets and cross-chain tooling that abstracts away complexity like fuel administration, bridging, and token swaps.

Departing Polygon Employees Voice Mixed Emotions After Job Cuts

Although Polygon didn’t disclose what number of staff had been let go, former employees members started confirming exits shortly after the information broke.

Several described the layoffs as painful however expressed optimism about Polygon’s route.

One former senior ecosystem determine said they had been proud of what the staff had constructed and remained assured in regards to the future of the protocol.

Others publicly started searching for brand new roles throughout operations, enterprise growth, and ecosystem administration, displaying the breadth of capabilities affected by the restructuring.

The cuts are usually not Polygon’s first try and streamline operations.

Over the previous two years, the corporate has gone by way of a number of restructurings, including a roughly 19% workforce reduction and the spin-off of Polygon Ventures and Polygon ID in early 2024.

Executives on the time mentioned these strikes had been designed to cut back complexity and focus sources.

Polygon maintains that its monetary place stays strong, as for the reason that starting of January 2026, Polygon’s protocol payment income has exceeded $1.7 million, suggesting the layoffs had been pushed by strategic reprioritization fairly than a scarcity of capital.

Polygon’s transfer comes amid a broader wave of restructuring throughout the crypto trade as firms reassess prices and focus areas after years of speedy enlargement.

This week, Mantra announced job cuts and a shift to a leaner working mannequin following a steep collapse in its OM token and extended market stress.

In July 2025, Consensys, the Ethereum software firm behind MetaMask, reportedly laid off about 7% of its workforce as half of a realignment following an acquisition.

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