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Tuesday, March 28, 2023

another company will reduce 5% of its staff

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“As part of this reorganization, some people will have new roles, responsibilities, and lines of inquiry,” a Chainalysis spokesperson told CoinDesk.

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Founded in 2014, Chainalysis has become famous for collaborate with the United States Government and other governments in investigations related to cryptocurrencies.

That work intensified last year after a series of high-profile collapses across the industry, from hedge fund Three Arrows Capital or Terra last spring to the exchange. FTX and all its subsidiaries last November.

Despite the rebound at the beginning of the year, cryptocurrency companies choose to continue layoffs. A similar situation is going through the traditional sectors and in particular the big technology ones. It is estimated that the number of layoffs in crypto companies is around 3,000, with important companies such as Coinbase, Gemini or Crypto.com leading the destruction of jobs in the sector.

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Another key company in the sector, Genesisannounced last month a 30% cut of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter, as pressure mounts on crypto executives to cut costs in the aftermath of the recession.

On January 12, the United States Securities and Exchange Commission (SEC) accused two of the main cryptoactive companies that operate in that country, Gemini and Genesis, of infringing the law by offering to the public marketable securities that were not registered with the regulator.

Source: Ambito

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