BlockFi And Crypto.com Render Hundreds Of Staff Jobless As Crypto Market Bleeds
BlockFi announced in a blog post Tuesday that it is letting go of a sizable number of staff: 20 percent of its total headcount, or around 170 to 200 employees. Zac Prince, the CEO of the crypto trading and lending platform, tweeted that the job cuts can be traced to a “dramatic change in macroeconomic […]
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It appears that the current state of the digital market is hitting hard on the economy of certain crypto exchanges. The BlockFi cryptocurrency lending and exchange platform, Crypto.Com, and Gemini are a few examples to pinpoint. According to BlockFi’s blog post by its co-founders, Flori Marquez and Zac Prince, around 20% of its 850+ staff […]
On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to the bear market.
Blockfi to Lay off ‘Roughly 20%’ of Its Workforce
Digital currency values are not that hot these days, and the crypto economy slipped below the $1 trillion region on....
BlockFi, a cryptocurrency lender that just closed a $400 million loan and possible purchase conditions with cryptocurrency exchange FTX, is providing staff buyouts as a covert means to cut down on manpower. One month after reducing its workforce by 20%, the change was made. BlockFi Offers COBRA According to a BlockFi employee, the company is […]
Binance, Ripple, and Kraken are hiring, while Coinbase, Gemini, and Crypto.com have announced staff cuts. Amid the recent volatility in the crypto market affecting investments and stock prices, many firms made significant staff cuts in the last month while others continued hiring.In June, major crypto exchange Gemini was among the first to reportedly cut 10% of its employees amid the bear market, saying conditions were “likely to persist for some time.” Coinbase and Crypto.com followed, announcing plans to reduce staff by 18% and 5%, respectively. Coinbase CEO Brian Armstrong also cited....
Coinbase, BlockFi, and other major companies in the crypto sector have been negatively impacted by the persistent downtrend across the digital and legacy financial markets. The companies have been forced to cut down on their staff to stay afloat and continue with their operation. Related Reading: Crypto Firm Genesis Trading And Head Of Sales Steps […]