Crypto.com, BlockFi to Cut Over 400 Jobs Amid Market Rout
— Zac, Rout, Jobs, Cryptocom, Workforce, Thread, Marszalek, Blockfi, Market, Amid, Ceo — 1 min read
Crypto.com will cut about 5% of its workforce, CEO Kris Marszalek says. BlockFi also said it would trim its headcount in a tweet thread on Monday. The cryptocurrency market has been falling this year, having touched a peak value of about $3 trillion in November. On Monday it slumped more than 12% to slide below $1 trillion. Bitcoin has declined for nearly 12 straight weeks, marking one of the asset’s biggest slides in its lifetime. Winklevoss twins-led exchange Gemini and Rain Financial – among others – said it was cutting dozens of jobs. Source