Digital currency firm BlockchainThe company claimed that it is responsible for around a third of all Bitcoin transactions and was previously valued at around $14 billion.com has announced it’s going to be laying off approximately 25 percent of its staff, which amounts to about 150 separate people at the time of writing. Society is just the latest to fall victim to the bearish conditions of digital currency that started in 2022, and it does not appear that the trend will cease in the near future. digital currency company has announced that it is going to lay off about 25 percent of its staff, which represents about 150 distinct people at the time of writing.
Blockchain.com Staff Members Are Made to Say Goodbye
Blockchain.com is also shutting down its office in Argentina. Initially, the company has announced that it will spend that time trying to expand to other countries, although all of these plans were put on hold until the market was able to calm down. Roughly 44 percent of the layoffs will pertain to employees of Argentina, while about 26 percent will hit U.S. employees and 16 percent will apply to staff members in the U.K.
Blockchain.com isn’t the only crypto company to be forced into “layoff mode” over the last few weeks. Not long ago, popular digital currency exchange COINBASE stated that it would be laying off about 1,000 people as it works to bring its operational costs down by more than 25 percent in the coming months. In the summer of last year, Coinbase was forced to undergo its first series of layoffs and let go of approximately 18 percent of its staff. Many traders felt that the bad news for the popular trading platform would stop there.
In addition, HUOBI GLOBAL also recently announced plans to release various members of its staff from employment, while last summer – just before Coinbase – Gemini in New York (headed by the famed Winklevoss Twins) said it was going to be laying off about ten percent of its staff, reducing its overall headcount from roughly 1,000 to 900. The company also took plenty of flak after it came to light that the layoffs were conducted via Zoom rather than done in-person.
Blockchain.com is one of several companies to have fallen victim to Three Arrows Capital, a crypto hedge fund that went bankrupt in the middle of 2022. The company also took plenty of flak after it came to light that the layoffs were conducted via zoom rather than done in-person.blockchain.com is one of several companies to have fallen victim to three arrows capital, a crypto hedge fund which failed in mid-2022.
Blockchain.com is one of many corporate victims of Three Arrows Capital, a crypto hedge fund that went out of business in mid-2022.
The start-up has lent about 270 million dollars in equity to 3AC, even at the moment of the press, The company's co-founders have disappeared from the face of the earth, and the firm's creditors' lawyers are working hard to find them.
It used to be a fairly large company. Once quite eminent enterpriseat this step, blockchain.com has suggested that it does not expect to see its nearly 300 million dollars never again.blockchain.com was founded in 2012. It even ranked number seven on CNBC’s recent Disruptor 50 List. In fact, he was seventh on CNBC's list of 50 recent disruptors.