After displaying disappointing Q1 results, Coinbase had to slow down on its hiring spree, said a firm’s executive.
However, no number of big-league investments can insulate a company from the industry it belongs to – and with crypto investors currently navigating rather choppy waters, it appears that Coinbase is following suit.While trading platforms such as Binance or Kraken rely more heavily on staking and other ways of garnering revenue to turn a profit, Coinbase is notorious for betting on transaction fees to keep their business rolling.
that the company is nowhere near bankruptcy, and assured investors their funds remained secure. Although the exchange seems perfectly capable of weathering the current storm, it had to put certain planned moves on hold., Emilie Choi, the President and COO of Coinbase, revealed temporary changes in the firm’s hiring policy and growth projections.
Despite plans made in 2021 to triple the size of the company, the current situation has led Coinbase leadership to allocate resources meant for its expansion to “higher-priority business goals.”The memo ends on a more positive note, stressing the importance of quality onboarding for new hires. It also promises a spectacular return to form in short order, as proven by Coinbase leadership’s glowing track record during the past 10 years at the helm.
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