Lemon had closed a $44.1 million series A funding round earlier this year, which they kicked off in July 2021.
The Argentinean cryptocurrency exchange Lemon Cash announced that they had laid off 38% of their employees, or around 100 people. The CEO blamed the international crypto environment, as well as a "recessionary period" in startup investments. He also urged that the announcement was not related to the FTX collapse, and explained that although the company had user funds stored with FTX, they withdrew them prior to FTX halting withdrawals.
- "Carta abierta a la comunidad" ["Open letter to the community"], Lemon Cash blog (in Spanish)