Report: Blockchain.com Cuts Staff by 25%, Executive Salaries Reduced
According to a recent report, Blockchain.com has laid off a quarter of the company’s staff and it has closed the crypto company’s Argentina-based offices as well. The layoffs follow the report that noted Blockchain.com lost $270 million due to exposure to Three Arrows Capital (3AC). Blockchain.com Lays Off 150 Workers Citing Crypto Winter Conditions On July 21, 2022, a Blockchain.com representative told Coindesk in an email that the company has laid off 150 workers or 25% of the staff. The company further notes that executive salaries and the CEO’s....
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There are still pockets of hope, however, with some companies looking to expand despite the market conditions. The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend.Crypto companies, including crypto exchanges, venture capital firms and blockchain developers, have been forced to reduce headcount in order to stay nimble amid the bear market. Some, however, have done the opposite, opening up offices in new locations and markets. It comes a few weeks after multiple....
Several months after becoming one of the first Poland-based businesses to accept payments in bitcoins, web developer and design company EL Passion made the news again when it offered its employees the chance to receive their salaries either partly or entirely in bitcoins. The EL Passion website states that: "After much interest in the company about bitcoin and crypto-currencies in general, we've decided to provide our employees with the choice of having their salaries paid in bitcoin. This makes EL Passion the first company in Poland to pay salaries in bitcoin. "Open source is a big part....
Compass Mining parts ways with 15% of its workforce while senior employees and executives take major pay-cuts in the wake of the cryptocurrency downturn. Ongoing strife in the cryptocurrency space has forced Compass Mining to lay off 15% of its employees while top executives and staff take major pay-cuts.The firm announced its decision to downscale its workforce in a bid to weather difficult market conditions, just a week after the resignation of CEO Whit Gibbs and chief finance officer Jodie Fisher. Chief technology officer Paul Gosker and chief mining officer Thomas Heller have taken....
The State of Hiring Report 2021 shows a 10% month-over-month increase in people who want their salary in crypto. Apart from high-profile athletes and politicians who are taking salaries in crypto, a study shows that the number of ordinary people who take some of their salaries in crypto has increased globally.Tracking trends that occurred in 2021, global hiring firm Deel published a report that noted a 10% month-over-month increase in people who want to be paid in crypto since November 2020. The data, pulled from over 100,000 contracts in over 150 countries, shows that Latin America....
A source close to the crypto exchange reportedly said there were 68 fewer employees on the company’s Slack channel as of Monday, suggesting Gemini had cut roughly 7% of its staff. Cameron and Tyler Winklevoss’ Gemini has reportedly laid off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees.In a Monday report from TechCrunch, the news outlet said that a source close to Gemini reported 68 fewer employees on the company’s Slack channel, suggesting the crypto exchange had cut roughly 7% of its more than 1,000 staff. The unnamed....