Like many companies at the start of the year, the Crypto.com cryptocurrency platform informs that it is in turn laying off workers. This measure represents 20% of its workforce.
Crypto.com layoffs to ride out crypto winter
In a bear market context, the cryptocurrency platform Crypto.com informs that it is laying off about 20% of its employees worldwide. After Silvergate, Genesis, Huobi and Coinbase, a new renowned player is joining the wave of downsizing at the start of the year.
Affected individuals have been notified and Kris Marszalek, CEO of Crypto.com, explained that this decision was not based on the performance of its employees :
“Several factors played into our decision to downsize. While we continue to perform well, reaching over 70 million users worldwide and maintaining a strong balance sheet, we have faced economic headwinds and unpredictable industry events. »
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The headwinds in question refer in particular to FTX, of which many companies have suffered collateral damage, accentuating the drop in activity on the market. Furthermore, it should also be noted that, in general, the global economic slowdown has not failed to affect our ecosystem as well.
Last July, when the cryptocurrency market was settling deeper into the bear market, Crypto.com had already parted ways with 5% of its forcesbut like other exchanges making the news, this first measure will not have been enough.
Kris Marszalek explains that the platform has grown, “ambitiously” at the beginning of last year, and that this new restructuring is the result of a choice of “prudent financial management“. Despite this decision, the person concerned nevertheless says he is confident in the future of his company.
While some lay off, others seem to be doing well despite the context. This is particularly the case of Binance, for example, which still has 682 job offers on its websiteat the time of writing.
Regarding the CRO, the token of the platform, the latter was not affected by the bad news, posting a gain of 4% over the last 24 hourswhile the market regains some strength, at least temporarily.
👉 Also in the news – Coinbase again lays off 950 people
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Source: Crypto.com
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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