{"id":68500,"date":"2022-10-12T19:53:38","date_gmt":"2022-10-12T16:53:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68500"},"modified":"2025-09-07T14:24:46","modified_gmt":"2025-09-07T11:24:46","slug":"media-stepn-to-lay-off-more-than-100-employees","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-stepn-to-lay-off-more-than-100-employees\/","title":{"rendered":"Media: STEPN to lay off more than 100 employees"},"content":{"rendered":"<p>The STEPN fitness app has begun a round of layoffs. According to sources cited by journalist Colin Wu, the company plans to lay off more than 100 employees.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The company has begun focusing on promoting its parent company Find Satoshi Lab, and mainly on new projects to be released, such as <a href=\"https:\/\/forklog.com\/en\/news\/what-are-nfts\">NFT<\/a>-marketplace. In addition, a large amount of GMT&#8217;s investor SAFTs will be unlocked in March next year.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1580076133420191744?ref_src=twsrc%5Etfw\">October 12, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The reductions affected not only staff on the Move-to-Earn (M2E) platform but also ambassadors of the project. The share of personnel cut was not disclosed.<\/p>\n<p>The bear market in cryptocurrencies has also forced STEPN to delay certain developments and cut investments.<\/p>\n<p>According to sources, the company is focused on promoting its parent studio Find Satoshi Lab and on releasing new projects, such as <a href=\"https:\/\/forklog.com\/en\/news\/what-are-nfts\">NFT<\/a>-marketplace.<\/p>\n<p><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 workforce reductions.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/coinbase-to-cut-about-18-of-its-staff\">Coinbase<\/a> will cut staff by about 18%, the 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> by more than 20%.<\/p>\n<p>Earlier, in the second quarter of 2022, STEPN earned a profit of <a href=\"https:\/\/forklog.com\/en\/news\/stepn-reports-122-5-million-quarterly-profit\">$122.5 million<\/a> from app usage fees.<\/p>\n<p>In August, STEPN and the Spanish La Liga football club Atl\u00e9tico Madrid announced the launch of an NFT collection.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The STEPN fitness app has begun layoffs. According to sources cited by journalist Colin Wu, the company plans to fire more than 100 employees.<\/p>\n","protected":false},"author":1,"featured_media":68501,"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":[1475],"class_list":["post-68500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-stepn"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68500","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=68500"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68500\/revisions"}],"predecessor-version":[{"id":68502,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68500\/revisions\/68502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68501"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}