On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to the bear market.
Blockfi to Lay off ‘Roughly 20%’ of Its Workforce
Digital currency values are not that hot these days, and the crypto economy slipped below the $1 trillion region on June 13. The entire crypto economy shed more than 14% in USD value during the past 24 hours. Crypto prices have steadily dropped for weeks on end and Monday’s market rout was quite gruesome. The leading crypto asset bitcoin (BTC) slid to a low of $22,600 on Monday, and a myriad of other alternative digital assets saw deeper losses. Amid the last few weeks of the crypto economy’s bear market downturn, digital currency companies have been laying off staff.
On June 13,...
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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...