{"id":68565,"date":"2022-10-14T10:49:14","date_gmt":"2022-10-14T07:49:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68565"},"modified":"2025-09-07T14:48:48","modified_gmt":"2025-09-07T11:48:48","slug":"media-reports-mass-layoffs-at-nydig","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-reports-mass-layoffs-at-nydig\/","title":{"rendered":"Media reports mass layoffs at NYDIG"},"content":{"rendered":"

The New York Digital Investment Group (NYDIG), a platform focused on institutional players, laid off about 100 people, or roughly 30% of its staff. CoinDesk<\/a> reports, citing sources.<\/p>\n

According to one of them, the layoffs continued for a few weeks. Wall Street Journal<\/a> reports that 110 employees were left without work.<\/p>\n

\n

“This sounds like a desk mentality, where no one talks to anyone. You could disappear, and no one would know about it for months,” said a former NYDIG employee to CoinDesk.<\/p>\n<\/blockquote>\n

The company spokesperson declined to comment.<\/p>\n

In December 2021, the platform raised a record $1 billion for the industry<\/a>, valued at $7 billion. In March it closed a financing round worth $200 million<\/a>, and a month later raised another $100 million<\/a> from insurance companies.<\/p>\n

\n

“NYDIG put all its efforts into this strategy […]. They spent the money, telling the story that they would bring Bitcoin to the masses,” added a source for the publication.<\/p>\n<\/blockquote>\n

In October 2022, the company raised $720 million<\/a> for its Institutional Bitcoin Fund and announced leadership changes. The presidency of NYDIG, replacing Yan Zhao, was taken by Nate Conrad, and Tejas Shah succeeded Robert Gutmann as CEO.<\/p>\n

As the bear market persisted, headcount reductions were announced at BitMEX<\/a>, Robinhood<\/a>, Gemini<\/a>, Bitso<\/a> and the parent company of Brazil’s exchange Mercado Bitcoin<\/a>.<\/p>\n

Coinbase<\/a> will cut about 18% of staff, the crypto-lending platform BlockFi<\/a> \u2014 20%. According to the press, Huobi<\/a> will lay off 30% of workers, the gaming NFT studio Immutable<\/a> \u2014 more than 20%.<\/p>\n

Read ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The New York Digital Investment Group (NYDIG), a platform focused on institutional clients, laid off about 100 people, around 30% of its staff. CoinDesk reports, citing sources.<\/p>\n","protected":false},"author":1,"featured_media":68566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1690],"class_list":["post-68565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-nydig"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68565","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=68565"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68565\/revisions"}],"predecessor-version":[{"id":68567,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68565\/revisions\/68567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68566"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}