Buenbit

Brazilian Cryptocurrency Exchange Mercado Bitcoin Lays Off 15% of Workforce Due to Global Economy Woes

September 3, 2022 Bitcoin.com

15%

Mercado Bitcoin, one of the biggest Brazilian cryptocurrency exchanges, has announced a new wave of layoffs amidst a worsening global economic situation for fintech startups, which the exchange states is affecting innovation-based companies. The exchange laid off 15% of its workforce on September 1st, this being the second round of layoffs the company has executed […]

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Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’

July 15, 2022 Bitcoin.com

$31 Billion in sales

The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the […]

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Israeli Crypto Company Etoro Lays Off 100 Workers, SPAC Deal Terminated, Company Eyes Private Raise

July 6, 2022 Bitcoin.com

2TM

The digital currency firm Etoro has revealed it is laying off 100 workers or roughly 6% of the company’s workforce. Furthermore, Etoro disclosed that the company is terminating the special purpose acquisition company (SPAC) merger planned with Fintech Acquisition Corp. Etoro says the company plans to raise funds privately now and aims to raise $800 […]

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Argentinian Cryptocurrency Exchange Buenbit Launches Stablecoin Yield Instruments

June 14, 2022 Bitcoin.com

Argentina

Buenbit, one of the leading Argentinian cryptocurrency exchanges, announced the inclusion of two stablecoins in its current yield program. The company will allow its customers to earn yields of up to 11% annually on their USDC and USDT funds, with the earnings being deposited in customers’ accounts daily, targeting high inflation markets. Buenbit Announces USDC […]

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Crypto Lending Company Blockfi Cuts Staff by 20%

June 13, 2022 Bitcoin.com

$20

On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to […]

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2TM Group, Parent Company of Mercado Bitcoin, Lays off 90 Workers Amid Market Cool Down

June 5, 2022 Bitcoin.com

2TM Group

2TM Group, a Latam unicorn and parent company of Mercado Bitcoin, a Latam-based cryptocurrency exchange, has announced it will execute a series of layoffs due to the current market cooldown. The company declared that this action was motivated by the recent global financial scenario changes, making it reconsider its position, and reducing its operative expenses. […]

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Layoffs Spread Across the Blockchain Industry as Bear Market Cycle Impacts Crypto Firms

June 4, 2022 Bitcoin.com

2TM

As digital currency prices have slid significantly in value during the past few months, the bear market cycle is starting to take its toll on the crypto industry’s workforce. On June 2, Gemini’s co-founders the Winklevoss brothers revealed the company would lay off 10% of its employees. The same day, one of the Middle East’s […]

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Latam Cryptocurrency Exchange Bitso Announces Layoffs Amidst Expansion to Colombia

May 28, 2022 Bitcoin.com

Bear Market

Bitso, one of the biggest cryptocurrency exchanges in Latam, has announced a series of layoffs due to the recent downturn in the cryptocurrency market. The exchange, which has a workforce of 800 workers, has decided to let go of more than 10% of its staff citing a change in the long-term strategy for the company, […]

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Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

May 25, 2022 Bitcoin.com

Argentina

Buenbit, an Argentinian cryptocurrency exchange, has announced a series of layoffs due to the downturn that traditional and crypto markets are currently facing. Buenbit’s co-founder and CEO, Federico Ogue, clarified that this move had nothing to do with the recent Terra ecosystem disaster and that from now on, the exchange would focus on keeping operations […]

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