3 Crypto Companies Announce 10%-30% Layoffs in 12 Hours
Winter has not yet concluded in the crypto market. Firms in the space have been finding it difficult to sustain. In the initial half of the year, a host of big names succumbed to liquidations or declared bankruptcy. Others remaining in the space have been trying to slash costs to strike a balance. Laying off staff has been a go-to route for top companies this winter. The said spree is currently on in full swing. In just over the past half a day, three large crypto firms— Galaxy Digital , BitMEX, and DCG—have either reduced or plan to reduce their headcount. In the last 12 hours of news, three large cryptocurrency companies have laid off their staff: Galaxy Digital plans to lay off 20% of its staff; BitMEX plans to lay off 30% of its staff, and DCG has laid off 10% of its staff. — Wu Blockchain (@WuBlockchain) November 2, 2022 Galaxy Digital This firm founded by Michael Novogratz is reportedly exploring eliminating “as much as 20% of its workforce...