It was a tough month for crypto employees, with at least 14 firms announcing staff reductions, including Coinbase, Gemini, Digital Currency Group, ConsenSys and Blockchain.com. Crypto companies tightened their purse strings in the first month of 2023, with at least 2,900 crypto staff cut loose across 14 crypto firms in January. The latest firm to…
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According to a recent report, Blockchain.com has laid off a quarter of the company’s staff and it has closed the crypto company’s Argentina-based offices as well. The layoffs follow the report that noted Blockchain.com lost $270 million due to exposure to Three Arrows Capital (3AC).
Blockchain.com Lays Off 150 Workers Citing Crypto Winter Conditions
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As digital currency prices have slid significantly in value during the past few months, the bear market cycle is starting to take its toll on the crypto industry’s workforce. On June 2, Gemini’s co-founders the Winklevoss brothers revealed the company would lay off 10% of its employees. The same day, one of the Middle East’s…
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