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“We’re keeping the company strong; we didn’t cut into muscle,” Lubin said in an interview with CryptoX. “We sort of right-sized support functions, some customer support, some internal team support, because there’s just less activity in our ecosystem right now. I expect we’ll get back to doing quite significant and
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The number of layoffs at the Hong Kong crypto exchange was not specified. Source
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The firm is the latest among the major crypto firms to announce layoffs. Source
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The Nasdaq-listed cryptocurrency exchange Coinbase is closing down most of its operations in Japan after announcing another round of job cuts globally. “Despite everything we’ve been through as a company and an industry, I’m still optimistic about our future and the future of crypto,” Coinbase CEO Brian Armstrong insisted. Coinbase Winding
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ALSO: Bitcoin had its best day in two months after the Consumer Price Index (CPI) report shows inflation slowdown, extending this week’s digital-asset rally. Source
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In reaction to the current market outlook, in November last year, Stripe laid off as many as 1,120 of its workers.Irish-American financial services and SaaS company Stripe has received its second valuation cut in 6 months, a sign that the fintech ecosystem is yet to recover from the underlying strain
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ALSO: Both bitcoin and ether reached nearly four-week highs. Equities closed higher. Original Source
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The company’s vice president of trust and safety, Ella Irwin, told reporters that Twitter made some cuts in the trust and safety team on Friday night due to low volume growth.Social media giant Twitter has reportedly cut more staff overseeing global content moderation in a move to stabilize its business
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Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-year partnership deals with Velas Blockchain and chip manufacturing giant Snapdragon, resulting in a cumulative $55 million loss for the Italian team
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CEO John Crain said the company overhired during the market upswing and could not sustain its growth in recent months. Source
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