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The crypto industry faced a new wave of layoffs in October

The crypto industry faced a new wave of layoffs in October

HappyCoinNewsHappyCoinNews2024/11/03 23:33
By:HappyCoinNews

Experts said that the crypto industry was hit by another wave of layoffs in October. For example, during a large-scale restructuring, the blockchain development company Consensys fired 20% of the staff. CEO of a crypto wallet developer Dappradar Joe Lubin said 162 employees lost their jobs.

Cryptus Exchange Creak also reduced its staff — the company's staff was reduced by 15%, or almost 400 people. The last time Creak laid off employees in November 2022. At that time, 1100 people, or 30% of the workforce, lost their jobs due to “market conditions.”

Decentralized crypto exchange dYdX announced her resignation 35% of its employees, and Antonio Giuliano, who returned as CEO, said the company needed "a new operating strategy to survive."

 У dYdX "It was a difficult year. We were faced with tough competition and a difficult market. It became obvious to me that we needed to revive the company, otherwise we would disappear," Giuliano explained his decision.

Another crypto firm that made layoffs in October was Helium Mobile developer Nova Labs. Just a few weeks ago, the company cut 36% of its workforce, citing a greater focus on its core mobile business.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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