On Thursday, June 2, came a truly shocking announcement from Coinbase (COIN). Not only would the publicly traded crypto exchange extend a hiring freeze first implemented two weeks ago, it will also rescind existing offers to new hires, according to a statement.
This is perhaps the most dramatic in a series of layoff decisions by crypto exchanges, which come as both equity and token markets continue to deflate amid the U.S. Federal Reserve’s attempts to fight inflation by hiking interest rates.
But are these cuts just part of a broader cyclical downturn that’s also hitting other speculative “growth” companies, like Tesla (TSLA)? Or is it something narrower and crypto specific?
In short, are these layoffs just the start of something much more dire? Are we on the brink of another crypto winter?
Coinbase’s decision to pull existing job offers is straightforwardly heinous. Imagine Coinbase offered you a job a week ago. You immediately put in your two weeks’ notice at the box factory...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...