The Giving Block, a crypto donations marketplace, trimmed its workforce, two sources with direct knowledge of the matter told The Block.

The Miami-based company laid off around ten people, or about 12% of its workforce, in three small rounds since November when FTX collapsed, the sources said. A spokesperson for The Giving Block confirmed the number of job cuts.

The Giving Block was founded in 2018 and connects crypto donors with over 1,000 nonprofit organizations. In March 2022, U.S.-listed payment company Shift4 acquired The Giving Block with an upfront payment of $54 million and a potential payment of up to $246 million in cash and stock. The Giving Block, however, still maintains autonomy and continues to operate independently, the spokesperson said.