{
Consensys

Companies

}

crypto job cuts highlight struggles amid bitcoin rally

Bitcoin's rally towards a new all-time high and increased ETF inflows contrasts sharply with a declining interest in other cryptocurrencies, leading to significant job cuts across the industry. Kraken has announced a 15% reduction in its workforce, while Coinbase reported disappointing earnings. Other firms, including Consensys, are also trimming jobs as the market shifts.
bloomberg.com
United States Dollar Consensys Kraken Coinbase Inc. USA Show more
Finance & Economy, Market Report
11:43 01.11.2024

consensys lays off 20 percent of workforce amid regulatory challenges

Cryptocurrency firm Consensys announced a 20% reduction in its workforce, attributing the decision to macroeconomic pressures and regulatory challenges. CEO Joseph Lubin criticized the SEC for what he termed regulatory overreach, stating that ongoing investigations and lawsuits are costing companies millions and hindering job growth.
Moneycontrol
Consensys Joseph Lubin
Regulatory & Legal, Blog Post
18:10 29.10.2024
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