WSJ: Binance Cuts Employee Benefits Due to Profit Decline, May Take More Cost-Cutting Measures

According to ChainCatcher news, based on information obtained from a former Binance employee and internal messages from Binance, the company has stopped providing benefits such as mobile reimbursements, fitness reimbursements, and work-from-home reimbursements since June 19. The internal message stated: "Considering the current market environment, along with the regulatory atmosphere leading to a decline in profits, we must be more cautious with our spending." The message also indicated that there may be more cost-cutting measures.

ChainCatcher previously reported that Binance has informed internal teams to halt hiring and further layoffs are expected.