After last year’s bear market, cryptocurrency companies around the world continued to lay off employees, and thousands of people lost their jobs in the first five weeks of this year alone.
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Recent layoffs at cryptocurrency firms include U.S. billionaire twins Tyler and Cameron Winklevoss’ Gemini Trust Co., Digital Currency Group’s London-based Luno trading platform and Singapore-based cryptocurrency banking firm Matrixport Technologies.
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Rising interest rates and the risk of a recession are causing a range of industries to cut spending. And in the broader technology industry, companies in the technology industry, including Google parent Alphabet Inc., Microsoft and Amazon, cut more than 30,000 jobs in January.
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