Crypto Exchange Layoffs are Indicating That the ‘Crypto Winter Is Coming’

Crypto exchange layoff and the upcoming crypto winter are creating tension in the crypto market

As if the shock from stablecoins like Tether and USD were not enough for crypto investors and crypto professionals in May 2022, the highly volatile cryptocurrency market has again surprised the entire cryptocurrency community with the crypto exchange layoff decision that has had a dramatic impact. Crypto exchanges have decided to withdraw the existing offers given to new hires in May 2022 for the crypto exchange layoff decision. This has led to speculation about the upcoming crypto winter in the highly volatile cryptocurrency market.

The major decision of this crypto exchange layoff started due to the continuation of deflating for both equity and token market amidst several attempts of the US Federal Reserve to fight inflation while increasing the interest rates. Thus, the sudden decision has led crypto investors and professionals to think of experiencing another crypto winter in the nearby future. 

Crypto professionals are shaming one of the top crypto exchanges known as Coinbase for the drastic decision to pull the existing offering jobs suddenly. One of the main reasons is that the economy of the cryptocurrency market has become slow and the crypto exchanges are the main point to reveal cutbacks because of being public or regulated companies.

The community of crypto investors is ready to have a shivering experience in another crypto winter since the market collapsed in 2018-2019. The crypto exchange layoff numbers were higher than the current crypto winter season. Some crypto exchanges decide to cut 9% while some support the crypto exchange layoff with 14% of the staff.

The crypto winter will come when there is a combination of the decline in new customer revenue from outside the industry, retail predictions, as well as venture capital investments. The decline in retail prediction has already embraced the cryptocurrency market through crypto exchanges due to the major fall in Terra. On one hand, crypto winters may freeze some crypto investors and their wallets. On the other hand, crypto winters are beneficial for providing a tougher environment with high-level scrutiny.

Thus, crypto winters may come soon to freeze the highly volatile cryptocurrency market. But it may provide some opportunities to improve the processes and projects of crypto exchanges. Crypto investors can blame and shame crypto exchange layoffs for dealing with new employees and their financial status. Everything happens for a reason!