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BlockFi and Crypto.com to Shed 400+ Jobs Amid Crypto Rout

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BlockFi and Crypto.com to Shed 400+ Jobs Amid Crypto Rout

Lending platform BlockFi and major cryptocurrency exchange Crypto.com are set to cut more than 400 jobs between them in the wake of this week’s 12 percent crypto market slump.

Latest in a Line of Job Shedders

Both bosses blamed this year’s steadily deteriorating crypto market following its US$3 trillion peak last November. But surely the catalyst for the pending dismissals would have been this week’s 12 percent plunge, which pushed the market cap below US$1 trillion.

Neither firm is unique in its intention to downsize staff. Gemini, helmed Gone Big Too Soon?

Like BlockFi, Crypto.com was riding high just a matter of months ago. In November last year, it paid a reported US$700 million in naming rights for the Los Angeles sports and culture arena formerly known as the Staples Center. Earlier this year, the company signed a five-year sponsorship deal worth A$25 million with the Australian Football League. The highly visible exchange, whose name is now ubiquitous in sporting circles, also has partnerships with the UFC, Formula 1, Italian Football Lega Serie A and French football powerhouse Paris Saint-Germain. Winklevoss twins Cameron and Tyler, has cut 10 percent of its workforce, and Coinbase, another major US exchange, has withdrawn more than 300 job offers and introduced a hiring freeze. Middle Eastern exchange Rain Financial has reportedly culled “dozens” of jobs.

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Published at:- The early birds betting bitcoin’s bottoming out Published at:- Two more spot crypto ETFs launch on Australian markets Published at:- Amid crypto bear market, institutional investors scoop up Bitcoin: CoinShares Published at:- IRA Financial Trust to sue Gemini over dollar36M crypto assets exploit back in February Published at:- Aussie Crypto Exchange Swyftx Merges With Superhero, Creating a dollar1.5 Billion Financial Powerhouse Published at:- English Premier League File Crypto and NFT Trademarks Published at:- ‘Optimism’ Hacker Returns 17 Million Tokens Worth dollar11 Million Published at:- Anon Hacker Gets Served with Restraining Order Via an NFT, a World First Published at:- Solana Challenges Poor Safety Rating from DeFi Watchdog Published at:- Australians Look to Virtual Real Estate Amid Overheated Real-Life Property Market Published at:- Crypto Markets Shed dollar100 Billion Amid Highest US CPI Print in 40 Years Published at:- Salesforce Does U-Turn, Launching ‘Sustainable Technology’ NFT Platform Published at:- TradeRoom: Our Weekly Crypto Trades Analysis – Jun 13, 2022 Published at:- Decentralised Exchange ‘Osmosis’ Goes Offline After dollar5 Million Hack Published at:- Shibarium Coming Soon, Two Indicators Show BTC Reached Bottom, Ada And Xrp Face Institutional Inflows Published at:- Ethereum ‘Difficulty Bomb’ Delayed as ETH Tumbles Briefly Below dollar1,100 Published at:- BlockFi and Crypto.com to Shed 400+ Jobs Amid Crypto Rout Published at:- Crypto Lender ‘Celsius’ Pauses Withdrawals, ‘Nexo’ Proposes Buying It Out Published at:- Coinbase the Latest to Cut Staff Amid Crypto Winter, 1100 Layoffs Published at:- Bored Ape NFT Floor Price Plunges Below dollar100k Amid Crypto Collapse Published at:- Rare On-Chain Metric Demonstrates We’re in the ‘Darkest Phase of the Bear’ Published at:- Crypto Lender ‘Celsius’ Pauses Withdrawals, ‘Nexo’ Proposes Buying It Out Published at:- Class-Action Lawsuit Launched Against Binance US for UST Collapse Published at:- Bitcoin bounced up from dollar20K, but lack of reasons for a rally Published at:- Crypto Spiral Halted as US Fed for the First Time in 28 Years Published at:- Brisbane Man's Crypto Bet Enables Him to Buy Home Mortgage-Free Published at:- US regulator sued by Grayscale after latest bitcoin ETF rejection Published at:- Crypto lender CoinLoan lowers its daily withdrawal limit by up to 99% Published at:- Australians Lost Almost $100 Million in 2021 to Crypto Investment Scams Published at:- Crypto hedge fund 'Numaire' (NMR) bucks the market bearish, pumps 100% in a week Published at:- Meta Calls It Quits on Crypto Wallet ‘Novi’ After Just 10 Months Published at:- ETH Devs Activate ‘Sepolia’ on Testnet, Inching Closer to ‘The Merge’ Published at:- Crypto broker 'Voyager' files for bankruptcy amid Three Arrows default Published at:- 'Crema Finance' hacker returns money, receives $1.7 million in SOL as reward Published at:- Lamborghini-backed racing team adopts NFT certification for car parts Published at:- NFTs hit by recession in crypto market, 92% drop in sales from January highs Published at:- Bitcoin: Here's What Traders Can Expect After BTC's Slow and Steady Return Published at:- Iranian Power Utility Tavanir Takes Serious Measures Against Unlicensed Crypto Miners Published at:- Bitcoin price sinks below US$20K, erases weekly progress Published at:- Renewed China Q2 earnings as futures slide on Covid lockdown, red hot fears for CPI Published at:- G20 Watchdog Says 'Robust' Crypto Rules Coming in October Published at:- Tether fortifies its reserves: Will it silence critics, mollify investors? 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ETH price momentum fades after $1.6K rejection Published at:- Hacker exploits 'Audacious' for $1 million in malicious governance proposal Published at:- One billion crypto users by 2030 predict 'lots of growth to come' Published at:- Sandbox Maker 'Animoca Brands' Launches DAO to Develop Metaverse Interoperability Standards Published at:- Australian inflation hits 21-year high as cryptocurrency markets eclipse $1 trillion Published at:- Renowned Ivy League Business School ‘Wharton’ Launches Metaverse Certification Published at:- Kraken Under Fire for Alleged Iran Sanctions Violations, Kraken Allows Iranian Users to Access Published at:- Bored app creators 'Era Labs' hit by class-action lawsuit alleging inflated prices Published at:- The Man Who Lost 8000 BTC Revealed Robot Dog Masterplan To Recover Fortune Published at:- Japan's Ministry of Economy launches Web3 Policy Office Published at:- Ethereum Tests $1500 Amid Successful Deployment of Tenth 'Shadow Fork' Published at:- Australian blockchain company Irreversible X lays off employees amid crypto crunch Published at:- Argentine football club welcomes first crypto signing amid economic downturn Published at:- Daily Active Dogecoin Addresses Surged 265% in Two Months, Data Shows Published at:- Ethereum Merge Update: Community Hopes End With 2022 Merger Complete Published at:- Japan’s Ministry of Economy Launches Web3 Policy Office Published at:- Ethereum Tests $1500 Amid Successful Deployment of Tenth 'Shadow Fork' Published at:- Football heavyweight Inter sweats over 'non-payment' of crypto firm's sponsorship deal Published at:- KuCoin Becomes First Exchange to Offer NFT ETFs Published at:- Cardano Vassil hard fork upgrade delayed again, 'more testing needed' Published at:- Axi Infinity CEO Turns $3 Million in Before Revealing Record $622 Million Hack Published at:- Tough week for Robinhood: 25% of staff cuts and $30 million fine for money laundering violation Published at:- North Korean hackers use fake resumes to get hired and steal crypto Published at:- Victorian State Parliament Moves to Give Police Broader Power to Seize Crypto Published at:- Huobi Global Exchange gets green light to operate in Australia Published at:- Galloy Introduces 'Stablesat', Bringing US Dollars to the Lightning Network Published at:- 'Ethical' hacker returned $9 million from nomadic exploits worth $190 million Published at:- Galoy Introduces ‘Stablesats’, Bringing US Dollars to the Lightning Network Published at:- Australia's BetaShares Launches Metaverse-Focused ETF on the ASX Published at:- Australia-based crypto miner doubles hash rate after energizing Canadian rigs Australia Published at:- Elon Musk challenges Twitter CEO to public debate over fake accounts and spam bots Published at:- Security Architecture in Blockchain Technology Published at:- How Safe is Blockchain? Blockchain Security Guide Published at:- U.S. Dollar And Bitcoin On The Rise, USDCAD Under Pressure Published at:- Strike’s new Visa Card allows payments in Bitcoin Published at:- Here are some diferent types of cryptocurrencies Types of Altcoins Published at:- What's the difference between a cryptocurrency like Bitcoin and fiat money? Published at:- World of Web3 (WOW) Summit Returns for its 3rd Global Edition in Europe Published at:- With Public Beta Launch, Emergents TCG Unveils Super-Rare NFT Card Packs & Exclusive Art Published at:- What Are the Different Types of Crypto? Published at:- What Are Crypto Coins? Published at:- What is XRP and how to use this coin Published at:- What is Binance USD BUSD and how to use this stable coin Published at:- What is Cardano ADA and which type of token is this Published at:- What is Solana SOL and how it works Published at:- Crypto Advertising Investments Fall From dollar85 Million to dollar36K in the US Published at:- Coinbase CSO responds to dollar5 million lawsuit claims Published at:- CEO Bankman Fried Says FTX has No Plans to Acquire Chinas Huobi Published at:- Bitcoin Binance Coin XRP and Solana Daily Price Analyses 30 August Morning Price Prediction Published at:- What are the three major benefits of cryptocurrencies to the entertainment industry Published at:- What does the future hold for cryptocurrency in the entertainment industry Published at:- Crypto Researcher Says Post Ethereums Merge Bitcoin Could Be Regulated Away Published at:- BofA Says Crypto Exchange Binance to Benefit From Increased Supply of Its own Stablecoin Published at:- Cardano price analysis ADA increases value by 5percent after a strong bullish wave Published at:- Experts Take On Ethereums Prospects After The Ethereum Merge Published at:- White House releases inaugural framework for crypto regulation Published at:- Pros and Cons of Altcoins ,Pros of Altcoins Explained Or Cons of Altcoin Explained Published at:- Ethereum upgrade makes it ultrasound money of the future Published at:- Exchange Giant Coinbase Wins Dutch Crypto License Published at:- Austrailia s Financial Watchdog Expands Team to Better Regulate Crypto Published at:- Dogecoin And Flow Fall As Chronoly Sells Almost 225 Million Tokens Published at:- Ethereums transaction fee sets a new record the L2s cant keep calm Published at:- Lunc Is Most Unprofitable Crypto Among Top 100 20 Eth Validators Slashed Xrp Surges 58percent In Week Published at:- Terra Classic surges 50percent as Binance offers token burning mechanism Published at:- Terraform Labs Terms the Ongoing Do Kwon Investigation As Highly Politicized Published at:- Cryptocurrencies in a Strong Uptrend to Buy on the Next Dip Published at:- Australia embraces CBDCs but where does Ethereum come in Published at:- Lack of 'qualified people without more Web3 education say academics Published at:- Kim Kardashian settles charges for unlawfully touting crypto security Published at:- How Binance is Training Law Enforcement Around the World to Combat Crypto Crime Published at:- Aave DAO favors fresh deployment of its latest version on Ethereum Published at:- Earning NFTs as Rewards Could Get Gamers Involved in Crypto Published at:- SEC Chair Violates Protocol on Kim Kardashian Settlement Published at:- Partnership Sealed to Power Malaysias National Blockchain Infrastructure Published at:- Scammers are targeting cryptocurrency scam sites to hijack their target audience Published at:- Fidelity Launches Ethereum Index Fund Lets Clients Looking for Exposure to Digital Assets Beyond BTC Published at:- Elon Musk needs to fabricate X Application for 8 billion individuals Will Wave XRP or Ethereum ETH be the cash Published at:- Coinbase joins Ethereum Establishment to further develop ETH exchange speed and cost Published at:- This Bitcoin BTC metric is high and whales might have something to do with it Published at:- Markets Bitcoin rises yet stays beneath US dollar 20000 Ether gains XRP leads crypto top 10 Published at:- Kazakhstan Assembly Pushes New Crypto Rules Forward Published at:- Arbitrums Proprietors Procure Key Ethereum Improvement Group Published at:- Bitcoin Agent NYDIG Says Monetary record Serious areas of strength for is 33 Staff Cut: WSJ Published at:- The most anticipated NFT round of 2022 is currently on Presale Published at:- Institutional crypto reception requires vigorous investigation for illegal tax avoidance Published at:- Aussie government financial plan reaffirms BTC won't be treated as unfamiliar cash Published at:- Hong Kong set to legitimize retail crypto exchanging Published at:- UK High Court closes down PGI Worldwide for affirmed crypto trick Published at:- Australia necessities to move with the times Crypto industry reactions to the government spending plan Published at:- ASIC Sues Monetary Firm Over Aussie Crypto Token Qoin Published at:- Crypto Money lender Hodlnaut Lost Nearly dollar190 Million in Land Crash Published at:- GameStop Dispatches NFT Commercial center on ImmutableX Published at:- Stepns New Solana Ethereum NFT Commercial center Avoids Enemies of Sovereignties Pattern Published at:- Rich youthful Americans have lost trust in the financial exchange — and are wagering on these 3 resources all things being equal. Get in now for solid long haul tailwinds Published at:- Coinbase Looks to Help Ripple Against SEC Published at:- Crypto choices trade Deribit hacked for dollar28 million Published at:- Green Crypto IMPT Raises dollar12 Million as Financial backers Gobble up Tokens Published at:- Bitcoin Ether costs rise Polygon leads top 10 in gains Doge Shib retreat Published at:- The Japanese Advanced Service Reports the Development of Its Own DAO Published at:- Japans Computerized Organization dispatches DAO to investigate DAOs and Web3 Published at:- Instagram to permit makers to mint and sell NFTs through the stage Published at:- ASICs Longo promises activity against certain high risk crypto items Published at:- Joe Biden discontent with Elon Musk for purchasing a stage that regurgitates lies Published at:- Safemoon detonates 92percent prior to crashing down 40percent in the midst of outrageous end of the week unpredictability Published at:- US SEC Charges 4 For Cheating Clients dollar295 Million Published at:- Binance purchases FTX Reports on what it implies for the crypto business Published at:- Binance Confirmation of Hold promise acquires support following FTX emergency Published at:- Bitcoin hits year low, Ether droops as Binance salvage of FTX startles financial backers Published at:- Ethereum In the midst of FTX Emergency ETH Plunges 22percent All the more Terrible News Coming Published at:- FTX says it is eliminating exchanging withdrawals or FTX programmer actually depleting trade wallets Published at:- Crypto Is not Dead Regardless of the situation Says YouTuber Bitboy Published at:- Solana SOL Organizer Reveals Huge Blockchain Update Published at:- Crypto Global Is Currently Accessible for Exchanging on LBank Trade Published at:- The cost of these tokens can increment multiple times by 2025, the ideal opportunity to contribute Published at:- Cryptographic money agent Beginning cautions of liquidation because of liquidity crunch Published at:- Top Crypto Information Stage Dispatches Confirmation of Hold Tracker for crypto trade Published at:- Dogecoin leads large caps during flat 24 hours Crypto Daily Market Update Published at:- North of 100 Captures Made in Greatest Ever Extortion Operation in crypto trick by UK Cyber crime Published at:- Worldwide Business sectors Down Will China Turmoil Trigger Next Bitcoin Rectification Published at:- Once more crypto Will Develop Here is When or Here Are Potential Reasons SHIB Value Plans Significant Move Published at:- Brazil Sanctions Crypto as an Installment Technique Published at:- Bitcoin and crypto ascend after Took care of Seat Powell hints facilitating rate climbs Published at:- Metamask is pioneer view about Apple is strategy and he remarks on Apple interest for a 30percent cut of the NFT gas expense Published at:- Bitcoin plunges back underneath US dollar 17000 Ether falls Dogecoin Published at:- Coin Check Needs a Stock Trade Posting Published at:- Coca Cola is sending off FIFA World Cup NFTs from match heatmaps Published at:- Here is The Rundown Of Nations That Thinks about Bitcoin Legitimate Or Unlawful Published at:- Bitcoin Ethereum Algorand and VeChain Everyday Value Examinations Published at:- Bitcoin and Ether ascend in sluggish exchanging the Solana gains on Web3 game organization Published at:- Crypto need not bother with the FTX of the world Published at:- SEC urges Firms crypto organizations to reveal openness in ongoing business sector breakdown Published at:- Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin Published at:- Kenya Based Bitcoin Mining Organization Raises dollar2 Million in Seed Venture Drove by Jack Dorsey Possessed Firm Published at:- Sam Bankman Fried misses deadline to respond to Senate Committee hearing Published at:- Bitcoin or Ether drop as SEC of Gensler says crypto firms using up all available time to consent to protections regulations Published at:- Wolf Of Money Road Encourages Crypto Financial backers To Cling to Bitcoin And 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at:- Whale Moves Ethereum ETH To Binance From Liquidity Pools Dump Coming Published at:- Nexo office in Bulgaria assaulted over misrepresentation or illegal tax avoidance doubt Published at:- India is National Bank Head Calls for Cover Prohibition on Crypto Published at:- Once more or bitcoin Excavator GRIID is NYSE Appearance Postponed Published at:- World Monetary Gathering distributes toolbox for DAOs or What does it involve Published at:- Singapore based crypto unicorn Amber Group slashes Hong Kong workforce Published at:- Unraveling ApeCoin is high MVRV proportion and late information break Published at:- XRP Bitcoin and Ethereum Five Years Time Forecast Published at:- Top 4 Inquiries That Are Often Posed About NFT Marking Published at:- Blockchain Fest Singapore 2023 reports sponsorship Published at:- Negative Pointer Are Huge Players Presently not Intrigued by Bitcoin and Bitcoin Stores Dropping Published at:- Bitcoin edges higher Ether minimal changed XRP Polkadot post solid 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