Is It Really a Bull Market? These Crypto Companies Laid Off Employees In a Week

Bitcoin is trading a few thousand dollars below its all-time high of $73,750, and the global cryptocurrency market cap has increased to $2.46 trillion this year, but digital asset companies are still laying off their employees.

The decision was necessary for dYdX to focus on its vision with renewed passion and clarity. Juliano asserted that the job cut was not a financial decision.that it was laying off around 160 employees, accounting for 20% of its workforce. The firm cited macroeconomic challenges and legal costs from regulatory battles as reasons for reducing its headcount.

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