The company fired more than 11000 employees on November 9, 2022, according to a message posted by Meta CEO Mark Zuckerberg, cutting the company's workforce by about 13%.
Gala Games was in turmoil as concerns over a prospective billion-dollar hack, or perhaps a rug pull, drove the value of its native GALA token down 20%.
The Canadian government cited its worries about the potential threats that digital assets and the digitization of money may pose to its financial system.