BlocksInform
The crypto company matrixport, headed by the former CEO bitmain jihan wu, is laid off 10% of the company's personnel, according to reports released Friday. Cynthia wu, matrixport coo, cited a "change in the regulatory environment" and "capitulations across the industry" as reasons for layoffs.
Matrixport makes 10% of its personnel redundant while Crypto Winter continues.
Jihan Wu’s Matrixport is letting go of 10% of the firm’s employees, according to multiple reports on Jan. 27, 2023. Bloomberg that anonymous sources say that the business development and investor relations leader of the company has left. The news follows another Bloomberg report, published in Nov. 2022, that said Matrixport was seeking $100 million in financing from investors.
Back then, the publishing company, it was to dialogue with investors. In addition to sources from Bloomberg on Friday, the company’s COO, Cynthia Wu, confirmed to Coindesk’s Omkar Godbole that the 10% cut in staff mainly stemmed from Matrixport’s marketing department.
"We have refined our strategic focus on accredited investors as the regulatory climate has changed significantly as a result of industry-wide divestitures. Our teams were lined up to reflect that change,' said Wu in Godbole. "We continue to hire in compliance, legal and product development, and marketing discounts are impacting 10% of our workforce."
The redundancies of Matrixport in the middle of the crypto winter are among the many cryptocurrency and blockchain companies letting employees go. Recently, Huobi reportedly let go 20% of its employees, and sources detailed this week that Gemini is letting go 10% of the exchange’s staff.
Coinbase reduced its headcount by 950 employees at the beginning of the year and Superrare cut 30% of staff around the same time. In addition, thousands of cryptography staff have been laid off over the past three quarters of 2022. Corporate giants like , Microsoft, Google, and Amazon have also let go large numbers of employees in recent times.
What do you think about the layoffs of Matrixport and the thousands of people who have been released from the entire crypto industry since last year? Use the feedback below to share your thoughts.
