{"id":68283,"date":"2022-10-08T13:53:44","date_gmt":"2022-10-08T10:53:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68283"},"modified":"2025-09-07T13:17:34","modified_gmt":"2025-09-07T10:17:34","slug":"media-crypto-com-cuts-more-than-2000-staff","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-crypto-com-cuts-more-than-2000-staff\/","title":{"rendered":"Media: Crypto.com cuts more than 2,000 staff"},"content":{"rendered":"<p>The cryptocurrency platform Crypto.com has cut its workforce by about 40%, laying off more than 2,000 employees. <a href=\"https:\/\/adage.com\/article\/digital-marketing-ad-tech-news\/inside-cryptocoms-marketing-meltdown-layoffs-cuts-sponsorship-deals\/2435076\">AdAge<\/a> reports, citing internal sources.<\/p>\n<p>In June, the platform&#8217;s CEO Kris Marshalek <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-chief-announces-layoffs\">announced the layoff of 260 employees<\/a>, or 5% of Crypto.com&#8217;s total workforce. By the end of summer, the number of laid-off workers allegedly increased eightfold.<\/p>\n<p>Former and current employees told the publication that the marketing division was cut first \u2014 the creative department was dissolved entirely within months of its creation.<\/p>\n<p>According to reports, in addition to <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-pulls-out-of-e500m-uefa-champions-league-sponsorship\">pulling sponsorship of the UEFA Champions League<\/a> worth \u20ac500 million, Crypto.com also terminated contracts with the Los Angeles-based women&#8217;s football team Angel City FC and the streaming platform Twitch.<\/p>\n<p>The company&#8217;s press office declined to specify the number of employees laid off. A Crypto.com spokesperson described the developments as a &#8216;restructuring process&#8217; that &#8216;has strengthened the position during the bear market.&#8217; He said that 60% of those laid off were contractors.<\/p>\n<p>In March, FIFA announced that Crypto.com <a href=\"https:\/\/forklog.com\/en\/news\/crypto-com-to-sponsor-fifa-world-cup-qatar-2022\">will become the official sponsor<\/a> of the FIFA World Cup in Qatar.<\/p>\n<p>Earlier, <a href=\"https:\/\/forklog.com\/en\/news\/media-bitmex-to-lay-off-a-quarter-of-its-staff\">BitMEX<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/robinhood-lays-off-9-of-staff-as-shares-slump-about-75-after-ipo\">Robinhood<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/gemini-to-cut-staff-by-10-amid-crypto-market-downturn\">Gemini<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/bitso-lays-off-80-employees\">Bitso<\/a> and the parent company of Brazil&#8217;s exchange <a href=\"https:\/\/forklog.com\/en\/news\/2tm-group-parent-company-of-mercado-bitcoin-cuts-staff\">Mercado Bitcoin<\/a> announced staffing reductions.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/coinbase-to-cut-about-18-of-its-staff\">Coinbase<\/a> will cut its staff by about 18%, crypto-lending platform <a href=\"https:\/\/forklog.com\/en\/news\/blockfi-to-lay-off-a-fifth-of-its-workforce\">BlockFi<\/a> by 20%. According to reports, <a href=\"https:\/\/forklog.com\/en\/news\/huobi-plans-to-cut-30-of-staff\">Huobi<\/a> will lay off 30% of workers, the gaming NFT studio <a href=\"https:\/\/forklog.com\/en\/news\/media-reports-layoffs-at-immutable-the-nft-game-developer\">Immutable<\/a> \u2014 more than 20%.<\/p>\n<p>Hodlnaut, a liquidity-crisis crypto-lending platform, <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-lays-off-80-of-staff-to-trim-costs\">slashed its staff by 80%<\/a>.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> channel \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto.com laid off about 40% of its staff, more than 2,000 employees. AdAge reports, citing internal sources.<\/p>\n","protected":false},"author":1,"featured_media":68284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1452],"class_list":["post-68283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-com"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=68283"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68283\/revisions"}],"predecessor-version":[{"id":68285,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68283\/revisions\/68285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68284"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}