NYDIG quietly laid off a third of its staff in September: report
Sources at NYDIG say the firm, which aimed to introduce BTC to the banking system, burned through the $1b it raised amid leadership shuffles at the top.
Latest layoff News
Crypto.com understated layoffs, dismissed at least 40% of its workforce: report
The exchange’s strategy of splashing on ads and partnerships backfired as the bear market set in, and it has scaled them down and laid off over 2,000 employees.
Brazil: Mercado Bitcoin’s parent company cuts workforce for second time in 2022
2TM blames the dire global financial conditions and the lack of proper digital asset regulations for its underwhelming performance this year, which led the firm to give up some of its workers again.
Coinbase-backed Rain Financial dismisses more employees as digital asset market slump continues
The company cites the persisting price slump in the digital asset market with Rain's co-founder and CEO, noting that the volatility in the industry has resulted in "unfortunate changes."
Robinhood lays off quarter of its workforce amid 75% dip in digital currency revenue
CEO Vlad Tenev took the blame for the layoffs, saying the company projected the high interest in its platform during the pandemic, and meme stock craze would last.
CoinFLEX exchange cuts staff amid $84M margin call dispute with Roger Ver
The cuts will reduce overheads by up to 60%, CoinFLEX says, further hinting at acquisition possibility even as its $84 million dispute with Roger Ver continues.
More Gemini staff faces layoffs in exchange’s ‘extreme cost cutting’ measures: report
A source with insider knowledge told TechCrunch that the exchange plans to cut down from 950 employees to 800 in a move aimed at “extreme cost-cutting.”
NFT marketplace OpenSea lays off 20% of staff cites bear market
Devin Finzer attributed the decision to the "crypto winter and broad macroeconomic instability," stating that they need to prepare the NFT company "for the possibility of a prolonged downturn."
eToro downsizes global workforce citing market conditions
The company cites the current market conditions as one of the reasons for the move; the layoffs will affect around 100 employees, with 55 of them from eToro operations in Israel.
Scandal-ridden Compass Mining lays off 15% of workforce, slashes exec salaries by 50%
Just weeks after its CEO and CFO resigned, Compass Mining has announced layoffs and salary cuts, claiming it grew too fast as the bear market claims more victims.
Hong Kong: OSL digital currency exchange lays off employees
OSL spokesperson also noted that the exchange had adjusted its business model to focus more on software-as-a-service, as well as professionals and institutional services.
Australian digital currency exchange Banxa slashes headcount by 30%
Banxa CEO Holger Arians stated that the company is anticipating another "crypto winter" and needs to reduce costs, or its success could be threatened in the long run.