Blockchain.com lays off 110 people, 28% of all employees | coindesk JAPAN | Coindesk Japan

Cryptocurrency financial services provider Blockchain.com has announced that it will lay off about 110 people, or 28% of its total workforce, spurring a terrifying week of bloodshed across the battered cryptocurrency industry. I put it on.

Blockchain.com was hit in July with a $270 million loan to failed crypto hedge fund Three Arrows Capital, leaving about 150 people behind. It has been forced to cut staff, and the staff cuts on January 13 will follow this.

“The cryptocurrency ecosystem is facing major headwinds to correct its course due to last year’s problems,” Blockchain.com officials said in an email.

“We have made the difficult decision to right-size the company by reducing operating costs and headcount to better balance product offerings and demand.”

Blockchain.com’s job cuts are as follows: Coinbase, a crypto asset exchange, announced that it will cut 20% of its workforce, or about 950 jobs, and ConsenSys, which operates Metamask, a crypto asset wallet. It adds to a tough week for cryptocurrency, which was followed by news that it plans to lay off more than 100 staff. CoinDesk estimates that nearly 27,000 jobs have been lost across the industry since April 2022.

Blockchain.com has expanded from about 160 people in early 2021 and now has about 280 staff. All affected employees have received severance pay, which varies from country to country.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Crypto Brokerage Blockchain.com Lays Off 28% of Workforce as Industry’s Cruel Winter Continues