Crypto startup Blockchain.com says it is laying off 25% of its staff, citing harsh market conditions. The cuts translate to about 150 roles at the firm, according to CNBC.
The company is also shutting down its Argentinian office and scrapping plans to expand in multiple countries.
Blockchain.com is one of many companies that got caught up in the fallout of crypto hedge fund Three Arrows Capital’s collapse.
3AC filed for bankruptcy protection earlier this month, having owed crypto firms including Celsius and Voyager Digital hundreds of millions of dollars. The company’s co-founders have since gone dark. Lawyers representing its creditors are trying to track their whereabouts.
Blockchain.com had itself lent 3AC $270 million in crypto and is expecting to lose that sum.
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Blockchain.com is „the world’s most trusted platform for transacting in crypto”. Trusted by millions since 2011 with over $1 Trillion in crypto transactions.
The company says that is has the world’s most popular crypto wallet” with over 83 million wallets created to buy, sell, and earn crypto.
Whether it’s trading, earning rewards, checking payment status, or lending crypto, Blockchain.com offers „the most established and widely-used way to invest in cryptocurrency” for tens of millions of customers in nearly 200 countries.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
