Polygon Labs’ acquisition of Coinme is in its final stages, and the company has initiated layoffs.
2026.07.16 21:49:04
Polygon Labs CEO Marc Boiron announced in a post that the firm’s acquisition of Coinme is in its final stages. Once the deal closes, the Coinme team will be integrated into Polygon Labs. This integration is part of a broader merger plan targeting profitability for Polygon Labs by 2027. As part of the ongoing integration, Polygon Labs cut multiple employees today. Boiron stated the company is transitioning from a blockchain foundation to a blockchain payments company, explaining that the two organizational models require distinct structures and talent setups, and the adjustment is driven by the company’s strategic direction shift—not related to the work quality of departing staff. He added that Polygon Labs currently boasts strong revenue performance, with stablecoin trading volumes hitting new highs consistently, client reserves exceeding expectations, and on-chain payment solutions having launched rapidly. The company will provide severance compensation and related support to affected employees.
Monday price preview for US and South Korean stock markets: SK Hynix is projected to open down approximately 3.8%, with most US stocks trading lower in pre-market hours.
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