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The company cited the challenging environment as a reason behind its headcount cut. Amid crypto winter and uncertain market conditions, companies continue to employ cost-cutting measures that often include layoffs. Digital asset management firm Arca is one the latest on the list of those currently in the middle of staff downsizing.
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“Growth has been hard to predict in this extended bear market and uncertain regulatory environment,” a spokesperson for Arca told CryptoX. “Our headcount adjustment will allow us to preserve capital and resources giving us a greater chance of success until this sector experiences a shift in sentiment and a clear
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance, the world’s largest crypto exchange by market capitalization, responded to rumors about the company cutting its staff by 20%. No 20% staff cut says Binance executive Binance, whose total headcount is about 8,000, reportedly laid off 20%
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Despite the cuts, the company still has several years of runway as it looks to build a sustainable operation, Svanevik said. The company has raised a total of $88.2 million over four funding rounds over the years, led by crypto investment firms such as L1 Digital and Old Fashion Research,
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With increasing concern over data leaks, AI tool makers are working to assure concerned users that their data is safe. Apple has banned the use of the AI tool ChatGPT among its employees in a bid to prevent data breaches and leaks. This was reported by the Wall Street Journal, which
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The parent company of the collapsed Silvergate Bank will be delisted from the New York Stock Exchange (NYSE) and 230 staff will be let go, Silvergate Capital has disclosed.In a May 11 filing to the Securities and Exchange Commission (SEC), Silvergate Capital said 230 staff will be “separated” starting May
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According to a post on Apr. 24, cryptocurrency exchange OKX does not support the buying and selling of "shell tokens" listed on the exchange.The clarification came after OKX staff member Haiteng shared a series of WeChat conversations where an individual allegedly approached OKX staff to purchase "shell tokens," or as
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In addition to closing the news unit and laying off employees, BuzzFeed has also announced that two of its executives are stepping down. Its chief revenue officer Edgar Hernandez and chief operating officer Christian Baesler are leaving the company. BuzzFeed Inc (NASDAQ: BZFD), an American entertainment company that focuses on digital
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Peer-to-peer cryptocurrency marketplace Paxful announced on April 4 that it was suspending operations. Paxful founder and CEO Ray Youssef said in a blog that “key staff departures” and the regulation environment were behind the decision.“We are not sure if it [the marketplace] will come back,” Youssef wrote. He added that
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Larry Cermak, vice president of research at The Block, has announced that he will be taking the reins at the crypto and blockchain news website from interim chief executive officer Bobby Moran — the second change in leadership since reports surfaced that former CEO Mike McCaffrey financed the platform through
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