Despite the latest market revitalization, these crypto companies have released more employees

Despite the latest market revitalization, these crypto companies have released more employees

The persistent Baisse reduced the interest in cryptocurrencies and disabled the business activity of numerous industry actors. Some leading stock exchanges, including Coinbase, Crypto.com, Bybit and octopus, have released part of their workforce in order to cope with the challenging times.

The trend seems to be similar at the beginning of the new year despite the latest market revitalization, since Gemini, Blockchain.com, Coinbase and many others announce a new wave of layoffs.

The wave of termination continues

Thousands of people lost their workplace due to the unfavorable macroeconomic conditions, while the FTX crash and the subsequent domino effect apparently triggered further layoffs. Here is a list of crypto companies that have reduced the size of their teams between the beginning of November and now.

The Argentine Stock Exchange Lemon Cash cut from around 38 % of his staff, which corresponds to around 100 people. CEO Cavazzoli assured that the changes were not related to the collapse of FTX and admitted that the company had a "tiny" commitment to Alameda Research.

The Mexican cryptoplatt form Bitso release at the end of November. This was the second round of discharge of the company, in which 80 people were previously released.

The octopus-based octopus also added its name to the list, reduce

"Unfortunately, the negative influences on the financial markets have continued, and we have exhausted preferred options to adapt the costs to the demand," it said.

Bybit joined Data Preserver-Spaces = "True "> The moving train at the beginning of December and reduced 30 % of its number of employees, while the Australian exchange Swyftx followed with almost 50% discharge.

gate.io -a trading center based on the quays and huobi did not have the best start to the new year and released almost 50 % or 20 %.

One of the biggest crypto exchanges- Preserver-Spaces = "True"> Münzbasis on January 10th, while Blockchain.com (28%) and span Data preserver-spaces = "true"> krypto.com (20%) did this in the following days.

The other trading platforms that recently reduced the size of their teams are Coindcx Zwillings (10 %) and luna other industry players

The offer not only includes digital asset Exchanges, but also companies that offer different types of services. Such an example is the investment company Paradigm geared towards cryptocurrencies. Es reduced Salaries instead of layoffs.

The MultiChain network, which supports Web3 applications-Octopus Network- Disprediated Slitzt 30 % in early 2023, while the company for blockchain software technology-Consensys- took the "extremely difficult decision" to have to release 96 of its employees.

Silvergate Capital-A cryptofocussed bench with headquarters in California- trimmed Preserver-Spaces = "True"> and broke several projects due to unsatisfactory income in the previous quarters.

The Digital Currency Group-a risk capital company led by Barry Silbert recently and Span Data Preserver-Spaces = "True "> WEALTH management division. The move took place shortly after the subsidiary Genesis had announced a staff loss. In addition, the platform also Submitted for insolvency protection according to Chapter 11.

Some layoffs until the collapse of ftx

The first wave of discharge began at the beginning of the second quarter of last year (simultaneously with the effects of terra and the subsequent market decline). BITMEX fired then and another 30 % months later.

The Argentinian platform Buenbit 45 % in May in an attempt to redesign its business strategy during the global currency crisis.