, the popular stock and ETF trading app that also offers crypto trading, cut 9 per cent of its staff. Mexican exchange Bitso and Bahrain-based Rain Financial have also made cuts.
There is some evidence of the decline in hiring in the Canadian crypto sector. Data from the job site Indeed.ca shows that the number of job listings with the word “crypto” in the posting increased exponentially from May, 2020, to February, 2022, but has since dipped slightly. Overall, however, the sector remains a niche – still a tiny part of the Canadian economy – and experts, including economists at Indeed, caution against overinterpreting the impact of the crypto crash on the labour market.
He added that Bitfarms was excited about creating jobs in small towns in Quebec , but he is disappointed the “gears of progress seem to have stopped” when it comes to anything crypto-related.
Just like any sector that got hot and bubbly through the decades.