Unchained Capital has slashed its workforce by about 15% and moved head of business development Parker Lewis to its board of directors, along with chief product officer Will Cole to a senior advisor role.
in blog postreferring to the reduction of staff Co-founder and CEO Joe Kelly said that while Unchained has never invested in FTX, Alameda or any other institution that results in the loss of client funds, it has never invested in FTX, Alameda or any other institution.
He noted that his company had a record number of new clients, bitcoin deposits, and trading volume. And currently, the loan book has a collateral to principal ratio of 214%.
“We acknowledge that mistakes may have been made along the way,” Parker Lewis wrote.in blog post by talking about such movements “Even though we have to go through every monsoon without losing our loan. But we are expanding faster than we thought in the current market environment.”
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