that the layoffs did not have anything to do with the recent FTX saga, stating, “Funding for Bitcoin-backed loans has been materially constrained by recent market events.”
It is interesting to note that DCG subsidiary Genesis Global Trading is one of the key entities involved with the collapse of 3AC, a popular crypto hedge fund that was one of the first major casualties of the year. DCG’s Genesis Asia Pacific Ltd. had lent Three Arrows $2.4 billion, with the hedge fund putting down the equivalent of $1.2 billion in crypto and other collateral back in October.
“During the bull market, there are many businesses to attend to. Often exchanges work to introduce new business lines, which means it makes sense to hire more people, sometimes more than needed. But in a bear market, companies tend to focus on how to allocate capital more efficiently. When considering their potential ROI, it may not be the right timing for a new business line.”
I'm sure these people found a new job
Drain the swamp.
Sad News 😐🥺☹️
And Trillioniores
the 2008 Financial crisis caused by our over regulated central banks and their fiat money system has over 28 million people cost their livelihood forever! Bitcoin fiatmoney CentralBanks centralcontrol speculation stockmarketcrash
Mercado de criptomoedas já faliram muitas pessoas, tô fora!
$AMZN says 'Hold My Beer'.
The Bull market will return and so will the opportunities. Anyone not making use of this bear market, learning skills, not holding and adding good gems is NGMI
Not if you’re a Hexican
In a crypto space full of layoff, let's take a closer look at projects that will double the staff! iEx_ec is planning a 100% increase during 2023 to sustain the development of the new strategy approved in November 2022. $RLC web3jobs 👨💻 See details:
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