Is blockchain laying off its staff?

Crypto firm Blockchain.com is laying off 25% of its staff, equivalent to about 150 roles. Most of the layoffs — about 44% — affect employees in Argentina while 26% are based in the U.S. and 16% in the U.K. The company had exposure to collapsed crypto hedge fund Three Arrows Capital.

What is blockchain com?

The company began as the first Bitcoin blockchain explorer in 2011 and later created a cryptocurrency wallet that accounted for 28% of bitcoin transactions between 2012 and 2020. It also operates a cryptocurrency exchange and provides institutional markets lending business and data, charts, and analytics. Blockchain.com is a private company.

Is blockchain cutting 25% of its workforce?

Cryptocurrency exchange Blockchain.com is cutting 25% of its workforce, equating to about 150 people. HOME MAIL NEWS SPORTS FINANCE CELEBRITY STYLE MOVIES WEATHER MOBILE Yahoo Finance Sign in Mail Sign into view your mail Finance Finance News News Video Video Crisis Management Crisis Management Editor's Edition Editor's Edition

Why is BlockFi laying off its employees?

CEO Zac Prince said in a Twitter thread that the layoffs can be traced to a “dramatic shift in macroeconomic conditions” and BlockFi’s push to become profitable. It’s not the only crypto company letting workers go.