Why Coinbase Will Cut 18% Of Workforce To “Stay Healthy During Recession”
Major crypto exchange Coinbase published a message from its CEO, Brian Armstrong. The company has decided to reduce its workforce by 18% to “ensure we stay healthy during this economic downturn”. Related Reading | Lending Platform Celsius Freezes Withdrawals, Raising Liquidity Concerns Last year, Coinbase became the first crypto exchange to debut in public markets under […]
Related News
Amid the crypto market carnage, the digital currency exchange Coinbase revealed it has decided to lay off 18% of its workforce. The announcement follows the company’s original plans to slow the hiring process and the firm rescinding a number of employment offers.
Coinbase ‘Grew Too Quickly,’ Crypto Exchange CEO Says
On June 14, Coinbase published a blog post written by the company’s CEO Brian Armstrong. The letter from Armstrong was announced in a Tweet that said: Coinbase CEO Brian Armstrong announced today the difficult decision to reduce the size....
Coinbase is taking measures to ensure that no office becomes an unofficial headquarters. Nasdaq-listed cryptocurrency exchange Coinbase is going completely remote and closing is its head offices in San Francisco.Coinbase announced Wednesday that it will shut down its former headquarters in the Golden Gate City in 2022 as part of its commitment to “being remote first.”“We’ve committed to having no HQ, and it’s important to show our decentralized workforce that no one location is [more] important than the another,” Coinbase noted. According to the company, the upcoming closure will be an....
Per a press release from the U.S. Department Of Justice (DoJ), a former Coinbase employee has been arrested for his alleged participation in an inside trading scheme. The main suspect was identified as Ishan Wahi, former product manager at this company. Related Reading | Blockchain.com Renders A Quarter Of Its Workforce Jobless As Bear Market Bites […]
FOMC Chair Jerome Powell assured investors that the Fed is ‘not trying to induce a recession’ in the United States.
Coinbase, Three Arrows Capital and MicroStrategy headline the latest business news from the world of blockchain. Coinbase has long been considered an important bellwether of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients and issuing stock, crypto prices were hitting record highs. Now, in the depths of crypto winter, Coinbase finds itself slashing a fifth of its workforce, losing retail trading volume and contending with downgrades of its credit and stock.This week’s Crypto Biz dissects Goldman Sachs’ latest downgrade of....