'Bitcoin really was created for the people by the people, to help people that have been oppressed, to kind of get out these ruts.” CryptoWendyO on El Salvador’s bitcoin investment amid a market fall. zackseward wsfoxley JennSanasie
"The Hash" team discusses today's top stories as crypto markets bleed $1 billion in liquidation: Coinbase will cut more than 1,000 jobs, SEC's Gary Gensler warns about high-yield products offered by crypto lenders and El Salvador loses half of its bitcoin investment amid market turmoil.
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Why Coinbase is laying off 18% of employees and what it means for cryptoCoinbase cited the rapidly changing economic conditions, the needs for managing costs, and the company’s previous over-hiring as reasons for laying off 18% of its employees.
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Coinbase mocks crypto pessimists in NBA Finals ad, lays off 1,100 next dayLast night, coinbase ran a $750,000 ad during the NBAFinals, mocking crypto cynics who've proclaimed 'Crypto is dead.' This morning, the company laid off over 1,000 employees. “We grew too quickly,' the CEO said in a blog post.
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Coinbase to Lay Off 18% of Staff Amid Crypto MeltdownCoinbase said it was slashing its workforce by 1,100 employees, or about 18% of its staff, because the company had grown too quickly and a potential recession “could lead to another crypto winter'
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Coinbase Lays Off 1,100 Employees—Billionaire CEO Warns Recession Could Worsen Impact Of $1 Trillion Crypto CrashCoinbase announced plans to lay off about 18% of the company's workforce to lower costs ahead of a potential recession, joining other tech firms in downsizing staffing levels as stocks and cryptocurrencies plunge deeper into bear market territory.
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