Coinbase cuts roughly 1,100 jobs amid fears of a ‘crypto winter’
Coinbase is still struggling with a worsening cryptocurrency market. The exchange has announced that it’s laying off 18 percent of its workforce, or about 1,100 jobs, to help weather difficult economic conditions. There’s a “crypto winter,” according to company chief Brian Armstrong, and the move is purportedly necessary to keep costs down during this dark period.Armstrong also saw this as a response to excessive optimism about crypto’s future…
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