Coinbase lays off over 1,000 employees — Warns of crypto winter
With bitcoin crashing to $21,000 — more than two-thirds off its all-time high — as opportunistic traders short the crypto in hopes of forcing Celsius to be liquidated, and MicroStrategy to get a margin call (it won’t happen until bitcoin drops to 4K), the CEO of the largest US crypto exchange, Brian Armstrong sent a letter to all its employees that will lay off 18% of the employees of the company.
“It looks like we are entering a recession after a decade-long period of growth. A recession could lead to another ‘cryptocurrency winter’ and it could last for a long time”
- Coinbase CEO, BRIAN ARMSTRONG
Originally published at https://bitnewsbot.com on June 15, 2022.
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