(Bloomberg) -- The digital assets industry has shed more than 2,000 jobs in the first two months of 2023.
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American cryptocurrency exchange Coinbase Global Inc. He said this week that further cuts are expected after 20% of the workforce was cut in January. Other trading platforms, including Crypto.com, Huobi Global, Gemini and Luno, have also announced declines in the past two months. Stock market earnings depend on retail sales, which are slowly recovering after a wave of crashes and scandals rocked the sector last year.
Layoffs were common among other types of crypto companies. Chinalysis, which specializes in tracking transactions in digital assets and counts Singapore's GIC among its investors, announced the cut in early February. Brevan Howard-backed researcher Messari has cut its workforce by 15 percent, CoinDesk reported.
In the year Here are some of the crypto landfalls announced or reported so far in 2023:
Dapper Laboratories
In a letter from Dapper Labs founder and CEO Roham Garegozlo, the company behind the National Basketball Association's top-shot NFTs said it would lay off 20% of its workforce in a reorganization to "focus and streamline." to improve.
Oval
Blockchain analytics firm Elliptic is laying off 20 employees, or 10% of its workforce, DL News reports.
Maker
According to CoinDesk, the crypto information and exchange platform has been reduced by 15% as part of the restructuring.
Immutable
According to the Sydney Morning Herald, the Australian-based blockchain gambling company has laid off 11 percent of its workforce.
Polygonal laboratories
Leading blockchain operator Polygon has announced that it is laying off nearly 100 employees, or 20% of its workforce, as part of business consolidation.
RSG
One of the oldest crypto market makers cut nearly 20 jobs in January, the second round of job cuts at the company.
Magical Eden
Volatile Token Market has announced that it has eliminated 22 positions as part of a "company-wide restructuring."
Protocol laboratories
The company behind the decentralized file storage network Filecoin announced in a blog post that it will cut 89 jobs or 21% of its workforce across multiple teams.
Bittrex
Crypto exchange Bittrex has laid off more than 80 employees, CoinDesk reported.
Chain analysis
The company, known for its crypto transaction tracking service, said it has laid off less than 5 percent of its 900 employees.
Matrix gate
The digital asset lender will lay off 10% of its 300 employees.
Luna
Digital Currency Group has announced that the crypto exchange will cut 35% of its workforce.
Bitcoin Switzerland Limited
The digital asset investment company said it had cut some positions, but declined to give an exact number. This is "significantly lower than the industry average of 30 per cent of the workforce," the spokesman said. The company has also revamped its leadership: Chief Risk Officer Sven Rampoth is leaving the company after five years to take over the role of Chief Financial Officer held by Philippe Vonmos.
Blockchain.com
Blockchain.com is laying off 28% of its workforce, or about 110 employees. In the past year, it has eliminated about 150 roles. After the layoffs, the company will employ 280 people, up from 160 in early 2021.
Currency basis
On January 10, Coinbase announced that it would lay off approximately 950 employees, or 20% of its workforce. In Japan, he has closed down most of his operations and is spinning off some projects. Last June, Coinbase laid off 18% of its workforce, equivalent to 1,100 employees, and laid off another 60 in November.
ConsenSys
Ethereum software company ConsenSys has confirmed that it is shedding 96 jobs, accounting for 11% of the crypto company's total workforce.
Krypto.com
Crypto.com says it has laid off about 20% of its global workforce. There was also a layoff in the middle of last year. Crypto.com declined to provide an exact number of jobs cut in the latest round.
twin
Gemini Trust Company has laid off another 10% of its workforce. The company remains under pressure from the months-long crypto crash.
Genesis
Broker Genesis Global Trading Inc. On January 5, it laid off more than 60 employees, or about 30% of its workforce. Last August, the company cut 20% of its workforce.
OSL
The digital asset platform, backed by Fidelity International, will cut costs by a third, including "downsizing," said Hugh Madden, managing director of BC Technology Group, OSL's parent company.
Osprey Fund
Digital asset manager Osprey Funds has laid off 15 employees and is currently operating with less than 10 employees, Crypto Daily reported.
The main belief
Crypto services firm Prime Trust laid off about a third of its employees late last month, mainly in communications and compliance, CoinDesk reported.
Silvergate Capital
Crypto-friendly bank Silvergate Capital Corp. In January, it announced it would cut its workforce by about 200 employees.
Very rare
Evergreen token marketplace SuperRare cut its workforce by nearly 30 percent in January, CEO John Crain announced on Twitter.
hobby
Crypto exchange Huobi plans to cut 20% of its workforce, according to a statement released in January. The company employs about 1,100 people.
(Updates with the latest Dapper Labs resignation announcement.)
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