BlockFi

Crypto trading and lending exchanges BlockFi and crypto.com have laid off hundreds of employees after the global crypto market was battered owing to a "dramatic shift" in macro-economic conditions.BlockFi CEO Zac Prince said that the company is reducing headcount by roughly 20 per cent and the reduction impacts every team at the company."This decision was driven by market conditions that have had a negative impact on our growth rate and a rigorous review of our strategic priorities," he said in a statement late on…

Photo: Michael M. Santiago (Getty Images)The most recent crypto crash is causing quite a lot of reviled FUD (a term used in the community for fear, uncertainty, and doubt) not only among investors but inside the companies as well, though in the latter’s case its for their job prospects. The crypto lending company BlockFi announced Monday it was slashing 20%, or around 170 people from its total staff of around 850.In a blog post, founders Zac Prince and Floria Marquez said the cuts are impacting every team within the…

BlockFi, a platform for trading and lending cryptocurrency, announced via a blog post on Monday that it’s laying off 20 percent of its 850 employees — around 170 to 200 people. CEO Zac Prince said in a Twitter thread that the layoffs can be traced to a “dramatic shift in macroeconomic conditions” and BlockFi’s push to become profitable. It’s not the only crypto company letting workers go. On Friday, Crypto.com (the company with the Super Bowl ad featuring LeBron James) announced that it’s laying off around 260 workers,…