Rumors of a downturn across the tech industry more broadly have been swirling for several months, but crypto companies appear to be being hit particularly hard as they simultaneously endure "crypto winter".
On June 10, Crypto.com announced they would be "making targeted reductions" of 260 people, amounting to around 5% of their workforce. On June 13, BlockFi announced that they were in "the gut wrenching position of needing to reduce our headcount" by around 20%. BlockFi has around 850 staff, suggesting they plan to lay off 170 people.
- "Crypto crash wreaking havoc on DeFi protocols, CEXs", Cointelegraph