Moonvember kicks off with sweeping staff layoffs across crypto
There are still pockets of hope, however, with some companies looking to expand despite the market conditions. The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend.Crypto companies, including crypto exchanges, venture capital firms and blockchain developers, have been forced to reduce headcount in order to stay nimble amid the bear market. Some, however, have done the opposite, opening up offices in new locations and markets. It comes a few weeks after multiple....
Related News
Gemini, the cryptocurrency exchange owned by the Winklevoss twins, is laying off more staff. According to reports, the company is axing 7% of its current workforce, as it engages in significant cost-cutting policies. This is the second wave of layoffs at Gemini, after the company laid off 10% of its staff less than two months ago.
Gemini Lays Off More Staff
Gemini, a regulated, U.S.-based cryptocurrency exchange founded by the Winklevoss twins, is reducing the size of its workforce, according to sources. While the exchange did not make an internal announcement for this round of....
Buenbit, an Argentinian cryptocurrency exchange, has announced a series of layoffs due to the downturn that traditional and crypto markets are currently facing. Buenbit’s co-founder and CEO, Federico Ogue, clarified that this move had nothing to do with the recent Terra ecosystem disaster and that from now on, the exchange would focus on keeping operations in countries where it already has an established presence.
Buenbit Announces Layoffs
Buenbit, an Argentinian cryptocurrency exchange, has announced a change in its hiring strategy due to the recent downturn that the....
Bitso, one of the biggest cryptocurrency exchanges in Latam, has announced a series of layoffs due to the recent downturn in the cryptocurrency market. The exchange, which has a workforce of 800 workers, has decided to let go of more than 10% of its staff citing a change in the long-term strategy for the company, just when it had announced its expansion to Colombia.
Crypto Exchange Bitso Lays Off Over 10% of Its Employees
Bitso, one of the first cryptocurrency unicorns in Latam, has announced it is taking measures to preserve the operation of the company during the current market....
While the full impact of FTX’s collapse is still unfolding, some have already warned of an increase in layoffs to come “in the months to follow.” The fall of crypto exchange FTX and potential resulting contagion could lead to an acceleration of crypto-company layoffs in the coming months, recruitment specialists warn.A Nov. 14 report from crypto data aggregator platform CoinGecko found that as of Nov. 13, the crypto space has seen 4,695 employees let go in 2022 so far, presenting 4% of staff cuts across all “technology startups.” However, the authors of the report warn that crypto layoffs....
The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the company adding a variety of new support features.
Opensea CEO Reveals Company Layoffs
Opensea joins the growing list of crypto asset companies announcing layoffs this year, as the crypto market downturn has....