Blockchain.com, a crypto brokerage founded by K, is set to cut 28% of its workforce as the so-called “crypto winter” intensifies.
The company, which was founded by British entrepreneur Ben Reeves in York in 2011, plans to lay off around 110 employees, according to information from news site Coindesk. This is in addition to the approximately 150 employees cut from the company in July last year.
The announcement makes Blockchain.com the latest crypto firm to cut its workforce in 2023 after US-based Coinbase began a streak of 950 layoffs earlier this week.
A Coinbase spokesperson said: “Faced with increasingly difficult economic conditions, we have made the difficult decision to initiate layoff processes with a group of tentatively selected employees in Europe to reduce the size of our teams to strengthen our business and make sure we can overcome anything else it comes our way.
This story is being updated