The crypto community has not had a unified response in dealing with the current bearish cycle, characterized by Terra’s collapse a month ago, the loss of critical price support levels among most cryptocurrencies and the fallout from the Celsius Network’s potential bankruptcy and Three Arrows Capital's insolvency.
Some crypto firms were caught off guard by the increased risk arising from the carnage in the ecosystem, while other companies have been preparing for this moment to build.
One metric that illustrates how prepared crypto firms were to weather the turbulence is the number of job layoffs and openings.
On one side, a group of crypto firms has significantly downsized its workforce. After freezing its hiring process and rescinding job offers, Coinbase laid off 1,100 employees. Crypto.com let go of 260 people, Gemini cut its workforce by roughly 100 people and BlockFi reduced the number of its employees by 170 individuals. Moreover, Bitso, Buenbit and Mercado Bitcoin – major...
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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...