OpenSea lays off 20% of its staff, citing ‘crypto winter’
— Winter, Staff, Crypto, Company, Lays, Finzer, Companies, Citing, Opensea, Team — 1 min read
Nonfungible token (NFT) marketplace OpenSea announced mass layoffs on Thursday. Co-founder and CEO Devin Finzer took to Twitter to disclose that his company was laying off up to 20% of its staff. Finzer blamed “an unprecedented combination of crypto winter and broad macroeconomic instability” for the layoffs. The layoffs reflect the dire state of the crypto market, whose combined value has declined by more than two-thirds compared to last year’s peak. According to one estimate, crypto companies shed 1,700 payrolls in June alone. Exchange giants Binance, Kraken and FTX have each reaffirmed plans to add more employees in the coming months to their staffs in the space. For confidential support on suicide matters call the Samaritans on 08457 909090 Source