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Blockchain.com Cuts 25% Workforce Amid Crypto Bear Market

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SCOOP: blockchain is cutting a quarter of its staff, around 150 people, as bear market bites. By IanAllison123

Blockchain.com said it would be closing down its Argentina-based offices and canceling team expansion plans in several countries. Some 44% of the impacted employees are in Argentina, 26% in the U.S., 16% in the U.K., and the remaining from the rest of the world, the company said.

Blockchain.com has expanded rapidly in the past 16 months, growing from 150 to more than 600 staff. The firm's Blockchain.com, which is one of the oldest firms in the crypto industry, is also shrinking its institutional lending business, halting all M&A, placing a pause on efforts to expand gaming and slowing its non-fungible token marketplace.

 

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