Blockchain.com Reduces 25% of the Workforce Amid Crypto Bear Market
Blockchain.com Reduces 25% of the Workforce Amid Crypto Bear Market. The latest move will bring an impact on the process of expansion. Twitter has been talking about this news since it first arrived.
The Impact On Blockchain.com Workforce
With the plan of expansion, Blockchain.com has to postpone for a while. Due to the reduction, the company is currently struggling to continue the entry to other locations. The company announced a total number of 150 people for this action. The process impacts employees from Argentina, the US, and the UK. Employees from Argentina are the most affected by the reduction. To add this information, Blockchain.com is one of the companies impacted by Three Arrows Capital (3AC).
Crypto Exchange https://t.co/PDJJcAHEZr is Reducing Its Workforce by 25%.https://t.co/PDJJcAHEZr is the latest exchange to announce mass layoffs. The restructuring will shutter operations in Argentina and halt expansion..#crypto #btc #eth #xrp
— Kyrill Krystallis (@mrkrystallis) July 21, 2022
The Ups and Downs of Crypto
People who use cryptocurrencies might be familiar with the ups and downs in the market. It is not a challenge for consumers but also for companies to survive the turbulent situation. Things such as a crypto market crash have added to the frustration.
In recent months, some companies have announced their action of reducing employees. Companies such as Gemini, Coinbase, and OpenSea previously joined the unfortunate situation. Other companies might not be as lucky as reduced employees. Some companies have already filed for bankruptcy.
The community is not happy with the latest news. Many are afraid of how it would impact the consumers. They are hoping the ups and downs of the market will soon pass, and the market will be stable again.
Binance is one of the companies that has stated the continuation of the hiring process.
For more info regarding Crypto Alpha and NFTs Alpha. Always follow us at Twitter and Instagram