Bullish Joins Rival Crypto Exchanges in Cutting Workforce: Report
— Lending, Expenses, Institutional investors, Rival, Joins, Extension fee, Spac )., Series, Company spokesperson confirmed, Adding — 1 min read
Bullish, a unit of Block.one, Peter Thiel and Alan Howard together injected $10 billion in funding the exchange last year. Bullish pushed back its termination date to go public to December 31. The Gibraltar-registered company has laid off more than 30 employees, The Block reported. The layoffs represent a 7% cut to its workforce, a company spokesperson confirmed the job cuts. The downturn in cryptocurrency markets has led to a series of firms cutting back on expenses or letting go of employees, including Coinbase, BlockFi, Crypto.com, Vauld, Gemini and Ignite. Some commentators expect market volatility and ensuing financial challenges to continue for the foreseeable future. “I think there probably is some meaningful pain in the short term,” Source