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Nonfungible token (NFT) marketplace OpenSea announced mass layoffs on Thursday, joining other crypto companies in reducing headcount during one of the most volatile periods in the industry’s history. Co-founder and CEO Devin Finzer took to Twitter Thursday afternoon to disclose that his company was laying off up to 20% of its
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Ongoing strife in the cryptocurrency space has forced Compass Mining to lay off 15% of its employees while top executives and staff take major pay-cuts.The firm announced its decision to downscale its workforce in a bid to weather difficult market conditions, just a week after the resignation of CEO Whit
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Blockchain fintech firm PolySign has raised $53 million in a Series C funding round with participation from Cowen Digital, Brevan Howard, GSR and others, the company said Tuesday in a press release. Valuation for the company following the latest funding round was not disclosed. Source
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“We are mostly focused on increasing our headcount in product and tech,” Lennix Lai, director of financial markets at OKX, said on CoinDesk TV’s “First Mover” program. Original Source
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The publicly traded crypto exchange said the "crypto winter" drove the decision to reduce headcount by about 30%. Source
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Bitpanda announced it is reducing its employee count to 730, down from about 1,000. Source
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United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts
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Coinbase CEO Brian Armstrong officially announced on Tuesday that he made a "difficult decision" to reduce the size of the Coinbase team by about 18% due to a starting economic recession.“We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto
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On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms
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