The crisis in the crypto money market also extended to the staff of the company with the layoffs. Accordingly, Amber Group, Bybit, Kraken, Lemon Cash are among the companies that were forced to make mass layoffs. Because the bear market continues to wreak havoc on the crypto industry. So, for our readers, we looked at the list of industry players who have had to downsize.
The crisis has reached personnel in crypto money companies!
cryptocoin.comAs you follow, the brutal crypto winter continues to hit every corner of the industry. So some of the biggest players have had to curb their growth ambitions.
As crypto companies struggle to stay afloat, it’s worth looking at industry players who are reducing their staff. According to media reports and press releases, as of December 9, 2022, an estimated 26,702 people lost their jobs in the crypto industry.
Worker criticisms of cryptocurrency companies for the period of November – December
- December 9, 2022: Cryptocurrency trading company Amber Group lays off 40% of its workforce. Accordingly, it reduced the number of its employees by approximately 300.
- December 5, 2022: Australian crypto exchange Swyftx cuts 90 job positions. Accordingly, it reduced its workforce by 35%.
- December 5, 2022: Bybit to lay off 250 employees, 30% reduction.
- November 30, 2022: Crypto exchange Kraken cuts 30% from its workforce, or an estimated 1,100 people.
- November 24, 2022: Argentine crypto exchange Lemon Cash lays off 100 people, roughly 38% of its 296 staff
- November 18, 2022: Bitcoin financial services firm Unchained Capital criticized 15% of its staff. Accordingly, it laid off an estimated 638 people.
- November 10, 2022: Crypto exchange Coinbase cuts an estimated 60 job positions.
- November 9, 2022: Meta lays off more than 11,000 people, an estimated 13% of its workforce.
- November 4, 2022: Web3 game studio Mythical Games lays off 10% of its employees, or an estimated 32 people.
- November 3, 2022: Payment processor Stripe lays off more than 1,000 people, roughly 14% of its workforce.
- November 2, 2022: Dapper Labs reduced its workforce by 22% with approximately 135 staff.
- November 2, 2022: Crypto exchange BitMEX lays off 20% of its staff, about 53 employees.
- November 2, 2022: Digital Currency Group lays off approximately 13% of its staff, bringing the number of employees to 66.
- November 1, 2022: Crypto finance firm Galaxy Digital will lay off a fifth of its workforce, or an estimated 170 employees.
August-October layoffs
- October 13, 2022: Crypto trading company NYDIG lays off approximately 33% of its staff, approximately 110 employees.
- October 11, 2022: Market maker GSR cuts staff by 10%, layoffs an estimated 30 employees.
- October 6, 2022: Crypto exchange Crypto.com lays off 2,000 employees, roughly 30%-40% of staff.
- October 1, 2022: Indian crypto exchange WazirX laid off approximately 40 percent of its roughly 50 to 70 employees.
- September 23, 2022: Stakefish cuts 25% staff following Ethereum Merge. That’s about eight employees.
- September 16, 2022: Fintech startup TrueLayer lays off 10% of staff, approximately 45 employees.
- September 1, 2022: Social media giant Snap disbanded its Web3 team. It laid off 20% of the staff, about 1,459 employees.
- September 1, 2022: Brazil cuts staff by 15%, nearly 100 employees as part of the second layoff at crypto unicorn 2TM.
- August 17, 2022: Crypto broker Genesis cuts 20% of its 260-person workforce.
- August 11, 2022: Crypto miner Core Scientific lays off 10% of staff.
- August 2, 2022: Robinhood lays off 780 people, approximately 23% of its workforce.
April – July layoffs
- July 29, 2022: Crypto exchange CoinFLEX cuts 50-60% of staff.
- July 21, 2022: Blockchain.com lays off 25% of its staff, approximately 150 people.
- July 14, 2022: OpenSea laid off approximately 20% of its staff.
- July 7, 2022: Compass Mining lays off 15% of staff. In addition, he lowered his executive compensation.
- July 5, 2022: Crypto exchange Bullish.com cuts nearly 10% of its workforce.
- July 4, 2022: Crypto lender Celsius Network cuts 150 jobs during restructuring.
- July 1, 2022: Cosmos-builder Ignite cut staff by more than 50% compared to former employees.
- June 28, 2022: Huobi Global may cut more than 30% of its workforce as pressure in China leads to a drop in income.
- June 27, 2022: Australian crypto exchange Banxa lays off 70 people.
- June 24, 2022: European Crypto Exchange Bitpanda cuts its staff by 270.
- June 20, 2022: Bybit will reduce its workforce by 30%.
- June 14, 2022: Coinbase laid off approximately 1,100 employees.
- June 13, 2022: Crypto.com and BlockFi to lay off more than 400 people.
- June 3, 2022: Brazilian crypto unicorn 2TM lays off more than 80 employees.
- June 2, 2022: The Middle East crypto exchange lays off dozens of employees of Rain.
- June 2, 2022: Gemini lays off 10% of its employees.
- May 26, 2022: Latin American crypto exchange Bitso lays off 80 employees.
- May 24, 2022: Argentine crypto exchange Buenbit cuts 45%, about 80 people.
- April 4, 2022: Crypto exchange BitMEX lays off 75 workers.
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