Since the inception of the crypto bear market, crypto firms have been navigating their ways to adapt to market conditions, like Armstrong’s Coinbase, Crypto.com has announced staff layoff for the second time.
As a crypto enthusiasts; you can join the league of the biggest spenders of crypto by building your portfolio through personal interaction with our experts on Binance, Kucoin, and Bybit exchanges. Our crypto trading experts will share with you crypto signals which can make you a fortune.
Use PRO20% for your special 20% discount today as the promo expires soon. Click here to see reviews from our clients.
Crypto.com Announces Major Staff Layoff
The Singapore-based crypto firm Crypto.com has announced another major layoff of its workforce as per Friday’s announcement. The first layoff since the current crypto winter started was in mid-2022 which led to roughly 250 staff losing their jobs.
“Several factors played into our decision to reduce headcount. While we continue to perform well, growing to more than 70 million users worldwide and maintaining a strong balance sheet, we’ve had to navigate ongoing economic headwinds and unforeseeable industry events,” a statement from the blog post read.
According to the post, the exchange “grew ambitiously” at the beginning of last year, but the crypto crash which later surfaced changed the momentum, leading to staff layoff in July last year.
“The reductions we made last July positioned us to weather the macro economic downturn, but it did not account for the recent collapse of FTX, which significantly damaged trust in the industry,” the post read.
Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights, and also FREE market updates.
- My Binance Paradise – https://t.me/MCP_binance
- My KuCoin Paradise – https://t.me/MCP_KuCoin
