Coinbase, BlockFi, and other major companies in the crypto sector have been negatively impacted by the persistent downtrend across the digital and legacy financial markets. The companies have been forced to cut down on their staff to stay afloat and continue with their operation.
According to a new study published in Addictive Tips with data from Layoffs and LinkedIn, Coinbase (COIN) and BlockFi are some of the most affected in the tech and financial industry. The sector has lost over 28,000 jobs in 2022 amid a 1% economic contraction in the U.S. economy.
Coinbase And BlockFi, Worst Layoffs In Tech And Finance?
In the crypto industry, the drawdown has been significant with top cryptocurrencies losing over 80% to 85% of their value from their 2021 all-time high. In the case of Bitcoin and Ethereum, the cryptocurrencies rose to $69,000 and $4,500, respectively, and now trade at around $19,600 and $1,400.
The crypto market was able to reach around $3 trillion in total market...
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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...