top of page

Crypto firms lay off over 1,600 employees


Crypto companies are embarking on a new round of layoffs. Coinbase Global, Blockchain.com, Genesis, Huobi exchange, crypto bank Silvergate Capital, and Ethereum software firm ConsenSys, collectively are shredding more than 1,600 jobs in the first two weeks of 2023. Coinbase chief executive officer Brian Armstrong said the industry could see further contagion, and that with hindsight, he should have cut deeper last year. Tech and financial titans such as Amazon.com, Goldman Sachs Group, and BlackRock are also conducting widespread layoffs, citing economic uncertainty in a higher interest rate environment. Blockchain.com is letting go of about 110 employees, Coinbase announced a job cut of about 950 employees, ConsenSys plans to cut off more than 100 employees, Genesis laid off more than 60 employees, Huobi is planning to lay off 20% of its workforce and Silvergate Capital is reducing headcount by about 200.

Comentários


bottom of page