Since the inception of the current bear market, more crypto firms have been laying off their staff to keep their businesses afloat, the crypto exchange, Blockchain.com has now enlisted its name in the list of firms that lay off part of its workforce.

On Thursday, the company disclosed its intent to reduce its number of staff by 20% equating to 150 employees, citing the current harsh bear market conditions as its reason.

In a recent report by MyCryptoParadise, Blockchain.com lost about $270 million on its exposure to the troubled crypto lender, Three Arrows Capital, although the firm assured users of remaining liquid despite its exposure.

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In the past few months, Blockchain.com has expanded beyond its usual size after increasing its workforce from 150 to 600 employees.

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Blockchain.com Halting Expansion Plans

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Even though the firm has been planning to expand its presence globally due to increased demand for its services in regions like Africa, Europe, and the US.

Blockchain.com in its recent announcement said it is halting global expansion as the “crypto winter” is taking forever.

The firm has revealed its plans to close down its Argentina-based offices and cancel its expansion team set up for different countries. Some 44% of the impacted employees are in Argentina, 26% in the US, 16% in the UK, and the remaining from the rest of the world, according to the company.

Ad · MCP Partner The MEXC discount, negotiated for ParadisersSign up through our code and pay lower trading fees on 3,000+ pairs. Used by the ParadiseTeam. Claim the discount → Ad · MCP Partner Up to $5,100 in welcome rewards on BingXTheir current new-user offer — trade spot & futures, or copy top traders. ParadiseTeam recommended. Join BingX → Ad · MCP Partner Bitunix takes US traders. Most exchanges won’t.US acceptedCrypto futures with VIP code ParadiseFamilyVIP applied automatically at sign-up. Trade on Bitunix → Ad · MCP Partner KCEX built its name on one thing: the lowest feesUS accepted“The lowest crypto fees” is their own promise — welcome rewards for new accounts via our invite. Open KCEX account → Ad · MCP Partner Your keys, off the internet. Permanently.Ledger Stax — the cold wallet the ParadiseTeam uses for long-term storage. Shop Ledger Stax → Ad · MCP Partner An air-gapped vault that fits in your pocketSafePal S1 Pro signs 100% offline — nothing for hackers to reach. ParadiseTeam pick. Get SafePal S1 Pro → Ad · MCP Partner Security you can audit, not just trustTrezor Safe 7 — open-source hardware wallet with the TROPIC01 secure element. Get Trezor Safe 7 → Ad · MCP Partner Paper burns. Steel doesn’t.Trezor Keep Metal — your 24-word seed stamped in stainless steel. Fire- and water-resistant. Protect your seed →

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