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Crypto

Exodus cuts workforce 25 percent in restructuring

Cryptocurrency wallet firm Exodus is cutting 25 percent of its workforce as it restructures its organisation. The company said it is reducing headcount to adjust its cost structure and organisational priorities to fit a strategy to build a full-stack card issuance and payments platform. The announcement followed Exodus\' acquisitions of Monavate and Vank. Exodus reported 215 full-time employees as of Dec. 31 last year.

AI & Enterprise

Gartner warns AI overconfidence to cause most 2026 mainframe migration projects to fall short

More than 70 percent of mainframe migration projects launched this year will fail to deliver targeted results because organisations overestimate the capabilities of generative AI tools, Gartner warned on June 18. It also forecasts that 75 percent of vendors active in the mainframe migration market will change their business models or cease operations by 2030 as expectations are tempered and demand for uniform migration solutions declines.

Industry

SpaceX IPO spurs millionaire employees as wealth managers compete for clients

SpaceX’s initial public offering has sharply lifted the value of shares held by current and former employees, prompting wealth managers to compete for them as new clients. Scott Morton (스콧 모턴), a former SpaceX employee and founder of Los Angeles-based software company Revel, said firms have contacted him through handwritten letters, gifts and LinkedIn messages. He said the IPO could also encourage more SpaceX alumni to launch startups.