Coinbase, one of the biggest cryptocurrency exchanges in the world, says it is laying off 1,100 of its employees in order to “stay healthy during this economic downturn”.
“We appear to be entering a recession after a 10-year economic boom. A recession could lead to another crypto winter and could last for an extended period. In past crypto winters, trading revenue has declined significantly.“Coinbase has survived through four major crypto winters, and we’ve created long-term success by carefully managing our spending through every down period. Down markets are challenging to navigate and require a different mindset.
“If you are affected, you will receive this notification in your personal email because we made the decision to cut access to Coinbase systems for affected employees. I realise that the removal of access will feel sudden and unexpected, and this is not the experience I wanted for you.
Even crypto seff Don indirectly Sack Billions of users personally..
Oh my God!!!!! 😢 😭