ConsenSys’ plans continue the negative trend that began in the industry in 2022. Adverse market conditions have led to mass layoffs across companies — as of early December, more than 10,000 people were out of work, according to CoinDesk.
The OTC platform Genesis Tradingcut 30% of its staff. The WSJ reported that the firm is considering filing for bankruptcy.
In January 2023, Coinbase announced layoffs of 950 people as part of a 25% reduction in operating costs.
During the summer of 2022, the bitcoin exchange cut its staff by 18%, and in the autumn laid off 60 specialists.
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