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The last couple of months hasn't been that promising as far as the cryptocurrency market is concerned. During this course, we have seen how major cryptocurrencies including bitcoin, Ethereum, etc. tanked in value. Market conditions haven't improved and off late, it has been observed that quite a good number of crypto exchanges are laying off their employees. On the same lines, have a look at the top 10 crypto exchanges that are firing their employees now.
Amid the current bearish market, Gemini had cut down its employees by about 10%. It is also speculated that the same trend is likely to continue for some more time.
As the market conditions have not improved, a lot of crypto exchanges have stuck to their decision of downsizing. Coinbase is one among them. A lot of employees have been shown the exit door and the exchange is not likely to make fresh recruitments any time soon.
Blockfi is yet another crypto exchange that has been in the news for quite some time. It has laid off employees drastically and thus makes it to the list of top 10 crypto exchanges that are firing their employees now.
Bitpanda, a renowned crypto exchange platform, has recently announced a mass layoff. With this step, the firm aims to get out of the current bearish market condition.
Bitso is a renowned Latin American exchange that has laid off a good number of employees. The company cited internal issues for the same. Adding to this, the company stated that the current status of the organization is not in line with its goals and market strategies.
Investors know Robinhood as quite a friendly trading platform. It was in April that the exchange's stock HOOD had tanked to an all-time low value and following this, the exchange had to lay off its employees.
Bybit, that is, highly dependent on professionalism and rapid execution capabilities have been in the limelight, definitely not for the right reasons. The very news that the company is cutting a whopping 30% of its 2,000 people workforce, is no less than a shock for crypto investors.
Yet another popular cryptocurrency exchange that laid off a significant percentage of its total number of workers is 2TM. This second-largest cryptocurrency exchange in Latin America is also a victim of the current financial condition.
Amid the current economic downturn, blockchain.com too announced a massive layoff. Reportedly, the company has laid off around 25% of its workforce.
Vauld is one cryptocurrency exchange that has been drastically hit given the current bearish market conditions. It has suspended all withdrawals, trading, and deposits on its platform.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
