State Street reorganizes its digital assets division, resulting in job cuts

ChainCatcher news, according to Bloomberg, State Street Bank has recently restructured its digital assets division, with most employees being transferred to other departments of the company, resulting in some job cuts. Sources reveal that the number of positions eliminated is still unclear. By the end of 2023, the bank's digital assets division had about 100 full-time employees, most of whom have been reassigned to the bank's traditional asset servicing and technology operations departments.