More Than 1,500 Crypto-related Jobs Have Been Lost This Year
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Brian Armstrong, CEO of leading US crypto exchange Coinbase, has recently announced his intention to lay off another 950 employees as part of a second wave of staff cuts. That is, the crypto company plans to reduce the number of managers by about 25%.
Many other exchanges and blockchain startups have also been forced to lay off specialists in order to reduce staffing costs amid the current market downturn.
Since the beginning of the year, a total of more than 1,500 employees have been laid off by crypto-related companies.
For example, on January 5, Silvergate Capital announced that 200 people left the company, which means the team was reduced by 40%.
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