Prime Trust, a crypto services company, laid off one-third of its employees on Tuesday, according to two people familiar with the situation who talked with CoinDesk. The cuts primarily impacted Prime Trust’s communications and compliance departments, though it was not immediately clear how many people were affected. One observer described the move as a cost-cutting measure. Prime Trust provides cryptocurrency and fiat payment, custody, and regulatory services to other cryptocurrency companies such as Swan, Abra, and Okcoin. The layoffs follow a string of public problems for the company.