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Block Announces Workforce Reduction as Tether Expands Amid Crypto Market Shifts

Block Announces Workforce Reduction as Tether Expands Amid Crypto Market Shifts

Author:

Global Cryptocurrency

Published:

2026-02-09 12:12:02

24

3

BTCCSquare news:

Block Inc., the fintech firm behind Cash App and Square, is preparing to lay off up to 10% of its workforce during annual performance reviews. This marks the company's third major restructuring effort since 2024, following previous cuts totaling nearly 2,000 employees. The MOVE comes as Block's shares have declined 37% over the past year.

Meanwhile, Tether Holdings Ltd. is aggressively expanding, planning to add 150 employees to its current 300-person team. The USDT issuer is channeling profits into global expansion and strategic investments across AI, energy, and communications sectors, including backing platforms like Rumble. Tether's growth contrasts sharply with Block's retrenchment, as USDT's market capitalization reaches $185 billion.

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