BlockFi, Crypto.com Slash Jobs as Market Meltdown Worries Swirl
— Products, Freezing hiring, Announced, Cutting jobs, Said monday, Worries, Trouble, Market, Meltdown, Platform — 1 min read
BlockFi Inc. says it will reduce its headcount by about 20%, while Crypto.com announced a 5% cut on Friday. Celsius, another top crypto lending platform, said Sunday that it was pausing withdrawals, swaps and transfers. Earlier this month, crypto. exchange Gemini Trust Co. said it plans to slash 10% of its staff and. also announced that it is rescinding job offers and freezing hiring. The layoffs are yet another sign of trouble for the once. white-hot crypto. industry, though, it has been unable to pay out the significant returns promised on its products and is now on a downward spiral. It is not the first time that the company has cut jobs in the past year and is cutting jobs. Source