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Yuga Labs Cuts Employees, Focuses on Metaverse Extension amid Restructuring

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Today’s Cryptocurrency Headline

Yuga Labs CEO Daniel Alegre announced a company restructuring and workforce reductions in a Friday memo. “After a recent period of thoughtful consideration, I have decided that we need to restructure the Yuga Labs teams,” Alegre wrote in a blog post. “The implication of these changes is that a number of roles have been eliminated across the company, impacting some of your colleagues.””When I joined Yuga six months ago, my first priority was to lay out a clear vision that focused our team on the creative storytelling and community building that is at the core of Yuga,” Alegre added. “I realised very quickly that there were a number of projects that, while well-intentioned, either spread the team too thin or required execution expertise beyond our core competencies.”The company will focus on growing its community and brand engagement, “going all-in” on the firm’s metaverse extension Otherside and bolstering internal developments moving forward.

BingX’s Bitcoin Chart

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BTC‘s established support and resistance levels are currently standing at $27,700 and $28,500 respectively, providing a critical framework for future price movements and investor strategies in the ensuing periods. This interplay between the strategic maneuvers of both short and long-term holders will undeniably continue to shape Bitcoin’s price narrative in the days to come.

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