Blockchain.com trims a quarter of its workforce

The cryptocurrency exchange and wallet operator Blockchain.com laid off about 150 employees (roughly 25% of its workforce) and reduced the salaries of top executives. Company representatives told CoinDesk.

The workforce will return to the level seen at the start of 2022.

Blockchain.com will close its office in Argentina, pause hiring in the United States and the United Kingdom.

Plans to expand into certain countries have been frozen. Blockchain.com will shrink бизнес по кредитованию институционалов, impose a moratorium on M&A-сделки, развитие геймингового направления и NFT-маркетплейса.

According to сайту компании, its services are used by 37 million clients across 200 countries. About a third of global Bitcoin transactions pass through the 83 million wallets opened on the platform.

The company cited the need to compensate for financial losses and adverse market conditions. Blockchain.com continues to generate high revenue, its representatives emphasised.

The moves followed amid possible losses of $270 million, previously lent to hedge fund Three Arrows Capital. The latter filed for bankruptcy.

In early July, Blockchain.com demanded ликвидировать Three Arrows Capital.

In March 2022, Blockchain.com оценили в $14 млрд.

Earlier, CFO Makrina Kgil did not rule out выход на IPO в 2023 году.

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