{"id":75336,"date":"2023-03-10T13:26:59","date_gmt":"2023-03-10T11:26:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75336"},"modified":"2025-09-10T11:01:24","modified_gmt":"2025-09-10T08:01:24","slug":"blockchain-com-to-close-asset-management-unit","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/blockchain-com-to-close-asset-management-unit\/","title":{"rendered":"Blockchain.com to close asset-management unit"},"content":{"rendered":"

The exchange and wallet operator Blockchain.com is suspending the activities of its asset-management division after 11 months of operation. This is reported by Bloomberg<\/a>.<\/p>\n

The subsidiary was created in April 2022 soon after Blockchain.com’s funding round closed with a valuation of $14 billion<\/a>.<\/p>\n

According to the statement, the London-based structure has already filed to withdraw its registration in the United Kingdom. Blockchain.com Asset Management has not yet published its annual report.<\/p>\n

\n

\u201cAs the crypto winter approaches the one-year mark, we have made the business decision to suspend the operation of this institutional product,\u201d said a spokesperson for the parent company.<\/p>\n<\/blockquote>\n

In July 2022 Blockchain.com cut a quarter of its staff<\/a> and top executives’ salaries. The moves followed potential losses of $270 million<\/a>, previously extended as loans to the hedge fund Three Arrows Capital. The latter filed for bankruptcy.<\/p>\n

In January 2023, the company announced a new wave of layoffs<\/a>.<\/p>\n

According to CoinGecko’s report, in the first month of the year 2,806 people lost their jobs<\/a> in the crypto industry. 84% of the layoffs were concentrated on exchanges. Among those announcing platform optimizations were Coinbase<\/a>, Crypto.com<\/a>, Luno<\/a> and Huobi<\/a>.<\/p>\n

By contrast, Binance said it planned to hire 500 new employees<\/a> in the first half of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The exchange and wallet operator Blockchain.com is suspending the activities of its asset-management division after 11 months of operation. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":75337,"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":[996,83],"class_list":["post-75336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-com","tag-business"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75336","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=75336"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75336\/revisions"}],"predecessor-version":[{"id":75338,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75336\/revisions\/75338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75337"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}