layoffs
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Digital currency exchange Huobi on Friday reportedly said it plans to reduce its global headcount by about 20%, in the latest round of layoffs to hit the beleaguered cryptocurrency industry.
#Binance #huobi #layoffs #crypto2023 #cryptoonindia
#Binance #huobi #layoffs #crypto2023 #cryptoonindia
Digital currency exchange Huobi on Friday reportedly said it plans to reduce its global headcount by about 20%, in the latest round of layoffs to hit the beleaguered cryptocurrency industry.
#Binance #huobi #layoffs #crypto2023 #cryptoonindia
#Binance #huobi #layoffs #crypto2023 #cryptoonindia
Between 10% and 51% of employees fired in CRYPTO companies in 2022...!!🥶
#crypto2023 #bearMarket #layoffs #Binance #cryptoonindia
#crypto2023 #bearMarket #layoffs #Binance #cryptoonindia
Circle, Cryptocurrency Company, Resists Layoffs and Increases Staff by 25%
Notwithstanding the fact that the cryptocurrency sector is laying off people, USDC issuer Circle, which had over 900 employees as of the end of last year, aims to boost employment from 15% to 25% by 2023.
Chief Financial Officer Jeremy Fox-Geen has stated that Circle plans to boost its employment by 25% this year.
The Boston-based crypto company that was an issuer of the previous USD Coin stablecoin (USDC) had roughly 900 employees at the end of last year and by 2023. They should increase from 15% to 25%. 25%, or an additional 135 to 225 workers. That is a slower pace of growth than in 2022, when the population per capita will nearly double from 2021.
The Circle continues to hire even though many cryptocurrency businesses are terminating workers. After two Terra-LUNA shocks in May, several people filed for bankruptcy amid a challenging period for the cryptocurrency industry. Things only got worse when Sam Bankman-FTX Fried's crypto empire quickly collapsed. The real estate investment trust Safehold Inc. announced that Mr. Fox-Geen left for Circle in 2021.
“We are growing and investing, and we are fortunate to be financially able to sustain our investments (…). We have experienced down growth prudently and are focused on what matters most.”
There is increasing regulatory scrutiny on cryptocurrency trading firms as regulatory bodies like the SEC and CFTC take significant steps towards establishing a regulatory framework for cryptocurrencies, with a particular focus on stablecoins.
In the quarter ending September 30, Circle reported a revenue and interest income of $274 million, along with a net income of $43 million. In the first quarter of the year, the company had a revenue and interest income of $19.6 million, but suffered a net loss of $138.7 million.
#crypto2023 #layoffs #Stablecoins #circle
Chief Financial Officer Jeremy Fox-Geen has stated that Circle plans to boost its employment by 25% this year.
The Boston-based crypto company that was an issuer of the previous USD Coin stablecoin (USDC) had roughly 900 employees at the end of last year and by 2023. They should increase from 15% to 25%. 25%, or an additional 135 to 225 workers. That is a slower pace of growth than in 2022, when the population per capita will nearly double from 2021.
The Circle continues to hire even though many cryptocurrency businesses are terminating workers. After two Terra-LUNA shocks in May, several people filed for bankruptcy amid a challenging period for the cryptocurrency industry. Things only got worse when Sam Bankman-FTX Fried's crypto empire quickly collapsed. The real estate investment trust Safehold Inc. announced that Mr. Fox-Geen left for Circle in 2021.
“We are growing and investing, and we are fortunate to be financially able to sustain our investments (…). We have experienced down growth prudently and are focused on what matters most.”
There is increasing regulatory scrutiny on cryptocurrency trading firms as regulatory bodies like the SEC and CFTC take significant steps towards establishing a regulatory framework for cryptocurrencies, with a particular focus on stablecoins.
In the quarter ending September 30, Circle reported a revenue and interest income of $274 million, along with a net income of $43 million. In the first quarter of the year, the company had a revenue and interest income of $19.6 million, but suffered a net loss of $138.7 million.
#crypto2023 #layoffs #Stablecoins #circle
Crypto exchange Bittrex lays off more than 80 employees
Unfortunately, due to market conditions, Bittrex was forced to lay off over 80 employees today, who reside in various locations across the country,” the company said in a statement.
#cryptonews #layoffs #Web3 #dyor
Unfortunately, due to market conditions, Bittrex was forced to lay off over 80 employees today, who reside in various locations across the country,” the company said in a statement.
#cryptonews #layoffs #Web3 #dyor
Is OpenSea Adapting to NFT Changes with Layoffs and OpenSea 2.0? 🏪
NFT marketplace #OpenSea , after facing challenges in the crypto market, announced layoffs, marking its second round of job cuts.
The company, which operates like eBay and Etsy, laid off 20% of its staff in July 2022 due to the crypto winter. The recent #layoffs are part of OpenSea's transition to OpenSea 2.0, impacting around 50% of employees, including middle managers.
Departing employees will receive four-month severance, accelerated equity vesting, and six months of healthcare and mental health support.
OpenSea's decision to retire its operator filter faced community backlash. The company is now working on OpenSea 2.0 and has 12 open job positions listed on #LinkedIn .
#Binance
#crypto2023
NFT marketplace #OpenSea , after facing challenges in the crypto market, announced layoffs, marking its second round of job cuts.
The company, which operates like eBay and Etsy, laid off 20% of its staff in July 2022 due to the crypto winter. The recent #layoffs are part of OpenSea's transition to OpenSea 2.0, impacting around 50% of employees, including middle managers.
Departing employees will receive four-month severance, accelerated equity vesting, and six months of healthcare and mental health support.
OpenSea's decision to retire its operator filter faced community backlash. The company is now working on OpenSea 2.0 and has 12 open job positions listed on #LinkedIn .
#Binance
#crypto2023
🚨 Top 10 #Tech Layoffs of January 2024:
1. Microsoft: 1,900 employees at Activision Blizzard and Xbox this week.
2. Unity: 1,800 employees (25% of workforce)
3. iRobot: 650 employees (nearly 33% of workforce)
4. Twitch: 500 employees (35% of workforce)
5. Wayfair: 1,650 employees (13% of workforce)
6. Duolingo: 10% of contractor workforce
7. Amazon Prime Video & MGM Studios: "Several hundred" employees
8. Amazon Buy with Prime: 5% of staff
9. Humane AI: 4% of staff
10. Discord: 170 employees (17% of workforce)
#layoffs #top10
1. Microsoft: 1,900 employees at Activision Blizzard and Xbox this week.
2. Unity: 1,800 employees (25% of workforce)
3. iRobot: 650 employees (nearly 33% of workforce)
4. Twitch: 500 employees (35% of workforce)
5. Wayfair: 1,650 employees (13% of workforce)
6. Duolingo: 10% of contractor workforce
7. Amazon Prime Video & MGM Studios: "Several hundred" employees
8. Amazon Buy with Prime: 5% of staff
9. Humane AI: 4% of staff
10. Discord: 170 employees (17% of workforce)
#layoffs #top10
In the midst of uncertainty and a decline in business💼, #BrianShroder, the President and CEO of Binance.US has departed.
Furthermore, the company has internally announced a one-third reduction in its workforce.📉
#BinanceUS #layoffs
Source: Bloomberg Reports
Furthermore, the company has internally announced a one-third reduction in its workforce.📉
#BinanceUS #layoffs
Source: Bloomberg Reports
Did Unrealistic Metaverse Expectations Force Epic Games to Cut Jobs? 🧑🏻🏭
Epic Games, known for #Fortnite , cut 16% of its staff (830 employees) due to overspending driven by unrealistic metaverse-inspired revenue hopes.
CEO Tim Sweeney cited major economic shifts, admitting that #layoffs were necessary to stabilize finances. The success of the Fortnite Creator program contributed to growth but led to lower margins.
The company also announced the sale of Bandcamp and spinning off #SuperAwesome , resulting in another 250 job cuts.
Departing employees will receive six months of pay, with healthcare benefits for those in select countries. This move came despite Epic Games' notable products, including Fortnite and the Unreal Engine.
#Binance
#crypto2023
Epic Games, known for #Fortnite , cut 16% of its staff (830 employees) due to overspending driven by unrealistic metaverse-inspired revenue hopes.
CEO Tim Sweeney cited major economic shifts, admitting that #layoffs were necessary to stabilize finances. The success of the Fortnite Creator program contributed to growth but led to lower margins.
The company also announced the sale of Bandcamp and spinning off #SuperAwesome , resulting in another 250 job cuts.
Departing employees will receive six months of pay, with healthcare benefits for those in select countries. This move came despite Epic Games' notable products, including Fortnite and the Unreal Engine.
#Binance
#crypto2023
Mumbai-headquartered cryptocurrency exchange CoinDCX on Tuesday said it has laid off nearly 12% of its workforce amid rising challenges in the crypto space and overall macroeconomic hurdles faced by startups.
In a blog post, founders Sumit Gupta and Neeraj Khandelwal said the crypto exchange will support the impacted employees with necessary assistance and resources.
“We have put together a support package consisting of severance pay equivalent to the full notice period, additional one month of salary, variable pay and incentives dues, encashment of unutilised leaves, extension of health insurance & wellness benefits and access to counseling support,” the post read.
#coindcx #bitcoin #cryptocurrency #layoffs #cryptoonindia
In a blog post, founders Sumit Gupta and Neeraj Khandelwal said the crypto exchange will support the impacted employees with necessary assistance and resources.
“We have put together a support package consisting of severance pay equivalent to the full notice period, additional one month of salary, variable pay and incentives dues, encashment of unutilised leaves, extension of health insurance & wellness benefits and access to counseling support,” the post read.
#coindcx #bitcoin #cryptocurrency #layoffs #cryptoonindia
🔔 The #Near Project Octopus Network Announced Layoffs Of Roughly 40% Of The Members (12 Of 30). The Remaining Team Members Will Accept A 20% Salary Cut, And The Team Token Incentive Will Be Suspended Indefinitely.
#near #layoffs #millennial
#near #layoffs #millennial
