Crypto Firms Are Already Cutting Over 1,600 Jobs This Year

Crypto companies are once again tightening their belts as the bear market enters its second year and the industry suffers major meltdowns that hurt its outlook.

Coinbase Global Inc., and Genesis are among the companies embarking on another round of layoffs. The three companies, along with Huobi Exchange, crypto bank Silvergate Capital Corp., software company Ethereum ConsenSys, collectively, is cutting more than 1,600 jobs in the first two weeks of 2023. In a letter to employees, Coinbase CEO Brian Armstrong said the industry could see greater contagion, and that “with hindsight”, he should have cut deeper the last time. year.


#Crypto #Firms #Cutting #Jobs #Year #Crypto

Related Articles

Back to top button