3 Crypto Companies Announce 10%-30% Staff Layoffs in 12 Hours: Crypto Winter Deepens
The chill continues in the crypto market as multiple firms announce significant workforce reductions. Following a difficult January, where Crypto companies laid off at least 3,000 employees, citing market conditions and the post-FTX regulatory landscape, more pain is being felt. In a span of just 12 hours, three crypto companies have revealed plans to cut 10% to 30% of their staff.
Last Winter has not yet concluded in the crypto market, and the impact is now being felt across a wider range of businesses. In this article, we will explore some of the recent high-profile layoffs that have hit crypto companies.
Recent Crypto Layoffs: A Snapshot
The most recent layoffs within the crypto industry are:
- Foundry: Laying off 60% of employees.
- Kraken: Laying off 15% of employees.
- dYdX: Laying off 35% of employees.
10 Most Recent Crypto Layoffs
- OpenSea Reduces Staff by 50%.
Below, you can review which businesses announced staffing reductions. More details on these announcements, and the reasons behind them, are examined below. We will continue to update this list as more information becomes available.
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