Crypto Winter Effects: BitMEX and Galaxy Digital Lay Many Staff

In the shadow of the long-running cryptocurrency winter, large companies continue their layoffs.

The crypto winter has led to the bankruptcy or facing severe austerity of many industry-related companies.

Among the companies that do not prepare for this harsh face of crypto, there has been a well-established crypto exchange in recent days. Bitmex and billionaire Michael Novogratzis the CEO of Galaxy Digital‘also (GLXY) joined.

On the Bitmex front, CEO Alexander HoptnerSerious dismissal decisions were made a week after ‘s resignation. Bitmex, which has to make innovative decisions in company policy, as a part of this process,regretfully” explained that they had to make layoffs. staff for now 30% of Announcing that it will release it, Bitmex made the following statements in its statement:

As an unintended consequence, we had to make changes to our workforce. Our top priority is to make sure all employees who will be affected have the support they need.

Galaxy Digital, the crypto-focused investment firm headed by billionaire Michael Novogratz, said in a recent statement that its staff 20%Announced that they will be laying off. Company shares this year 70%It lost more than . In addition, the company has suffered severely from the continued bearish conditions of the cryptocurrency market.

According to media reports and press releases, he has been working in the cryptocurrency industry since the beginning of April. 11,700 people It is believed that he lost his job. crypto exchanges coinbase (COIN), Gemini and Crypto.comBig companies like ‘un also made layoffs in the past period.

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