At the end of 2023, crypto companies and exchanges fired almost 3,000 specialists. Moreover, the blockchain sector has been cutting jobs, despite the rise of bitcoin and other digital currencies.
In February, the negative trend continued, but the rate of layoffs decreased markedly, according to the Cointelegraph portal. Last month, 570 people lost their jobs. The 12 largest blockchain companies, including Coinbase and Huobi, have been made redundant.
Software developers such as Messari and Elliptic laid off approximately 10% of their employees. Messari founder Ryan Selkis tweeted that his team is changing its business model due to the challenging market environment.
Analysts Elliptic and Chainalysis said goodbye to 20 and 44 employees, respectively.
Researchers point to two major events in the industry – the collapse of Terra and the bankruptcy of FTX. It was they who became the main factors that sharply aggravated the situation on the market and forced companies to move on to optimizing their business.
