Chia Network Lays Off Third of Its Staff as Loss of Banker Delayed Going Public

While the crypto company slashes its staff, it’s also looking to sell from its stockpile of its own token, XCH, Hoffman said. That mountain of 21 million XCH represents almost three quarters of the supply of those coins, with nearly 9 million in current circulation, but Hoffman said the company would only unload a limited amount as a backup source of funding on the runway to its initial public offering (IPO).