GSR Responds to Layoff Rumors: The Report Is False, GSR’s Business Is Strong and Its Market Share Is Growing

2023/08/16 15:30

On August 16th, in response to The Block's rumors and reports of layoffs at GSR Markets yesterday, GSR co-founder Rich Rosenblum posted a response on social media today stating that while we have cooperated sincerely with the reporters, in fact, this article has always had negative coverage, and we need to clarify and respond to some of the inaccurate reports. GSR's business is very strong. We have successfully weathered three volatile bear markets without raising external funds. The company's balance sheet is stable. Regardless of market conditions, we continue to make profits and increase market share. This article tries to imply that the number of people who left within 18 months is more than the norm during a bear market. Over the past decade, we have had many personnel changes, but it is irresponsible to write a sensational article by putting it alongside strategic changes during a bear market. We will not disappear, and we continue to be very optimistic about the market. We are one of the longest-running and most well-funded companies in the industry. We are now stronger than ever before and in a better position.

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