• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, August 10, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Coinbase stops hiring as crypto slump continues

June 4, 2022
in Crypto News
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Crypto appears to be in the depths of its winter season, and many projects are feeling the cold. Coinbase, one of the flagships of the industry, is pulling in its horns and has stopped new hires. It has even gone as far as rescinding some of its most recent hires.

It was only just over a year ago when Coinbase became the darling representative of the crypto sector on Wall Street as its IPO exceeded all expectations.

On its first day of trading, the crypto flagship reached a valuation of more than $80 billion. The event was dubbed a “landmark moment” for the entire crypto industry by the New York Times.

However, it appears that this was the high-water mark for Coinbase, and except for a rally in October to November last year, its share price has gone from a $430 high to its present price of $66. The price went as low as $41 last month.

It was two weeks ago that Coinbase announced that it would begin to slow down on hiring due to volatility in the market. Now, as of Friday, the company added to its previous announcement by stating that it would continue its hiring freeze indefinitely, and in addition, would even rescind some of the offers it had recently made.

According to an article on Entrepreneur.com, L.J Brook, chief people officer of Coinbase, wrote the following to employees of the company: 

“As we manage through this downturn, we want to be transparent about the decisions we have to make in order to meaningfully manage expenses,”

He added:

“While we did not make this decision lightly, it is the prudent one given market conditions. We will continue to evaluate all of our options to responsibly navigate Coinbase through the current cycle. We always knew crypto would be volatile, but that volatility alongside larger economic factors may test the company, and us personally, in new ways”

Coinbase isn’t alone in having to tighten its belt. Gemini announced on Thursday that it would have to reduce its workforce by 10%, citing the “crypto winter” as its reason for doing so. Gemini told its employees:

“As painful as this moment is, we ultimately see it as an opportunity to double-down on our strongest ideas and customer-centric products so that we may be the catalyst of innovation coming out of these leaner times that will help fuel the next cycle of crypto growth and adoption,”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


Credit: Source link

Related articles

Curve Finance Comprimised — Here’s What We Know So Far

August 9, 2022

This Bitcoin Indicator Points Massive Bull Run

August 9, 2022
ShareTweetSendPinShare
Previous Post

Crypto Markets Are ‘Bigger Than Subprime Mortgages Before the Financial Market Crisis’ – Bitcoin News

Next Post

Cross-Chain Transfer Bridge Launched On Terra 2.0! LUNA Price Plunges, What Next ? – Coinpedia – Fintech & Cryptocurreny News Media

Related Posts

Curve Finance Comprimised — Here’s What We Know So Far

August 9, 2022

Yet another DeFi protocol Curve Finance has fallen victim to a black hat. Curve frontend apparently compromised — pls be...

This Bitcoin Indicator Points Massive Bull Run

August 9, 2022

A well-known crypto analyst and trader puts forth his analysis saying that Bitcoin’s price action is depicting the same pattern...

3 Cryptos To Buy During The Dip Season: Dogeliens, Cardano, And Synthetix

August 9, 2022

Blockchain-based assets like cryptocurrencies have paved the way for seismic shifts in the investment and financial services sector globally. As...

Iran executes first official import settlement worth $10 million in cryptocurrencies

August 9, 2022

This is the first major official import order by Iran in cryptocurrencies that helps it evade U.S. Sanctions. By September,...

Bitcoin realized price bands form key resistance as bulls lose $24K

August 9, 2022

Covered: BTC Price Bands Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range. BTC/USD...

Load More
Next Post

Cross-Chain Transfer Bridge Launched On Terra 2.0! LUNA Price Plunges, What Next ? - Coinpedia - Fintech & Cryptocurreny News Media

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

XRP Stucks at 100 DMA But Showcases Strong Potential!

August 3, 2022

Behind the scenes of the world of NFTs with Mint Podcast creator Adam Levy

August 4, 2022

Reddit is forging ahead with blockchain adoption push with FTX partnership

August 9, 2022

Whale Exchange Inflows Remain Down

August 6, 2022

Shark Tank Star Kevin O’Leary Buys the Bitcoin Dip — Says Crypto ‘Desperately Needs Policy’ – Regulation Bitcoin News

August 7, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?
  • Iran Places First Official Import Order With Cryptocurrency Worth $10 Million – Regulation Bitcoin News
  • The future of social media and protecting user data in web3 w/ Lens Protocol and the Aave companies

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$22,880.00-4.38%
  • ethereumEthereum(ETH)$1,675.91-5.77%
  • tetherTether(USDT)$1.00-0.14%
  • usd-coinUSD Coin(USDC)$1.00-0.01%
  • binancecoinBNB(BNB)$316.78-2.97%
  • Binance USDBinance USD(BUSD)$1.00-0.26%
  • rippleXRP(XRP)$0.361453-4.58%
  • cardanoCardano(ADA)$0.51-4.80%
  • SolanaSolana(SOL)$39.39-7.93%
  • polkadotPolkadot(DOT)$8.67-6.49%
  • dogecoinDogecoin(DOGE)$0.068331-3.78%
  • AvalancheAvalanche(AVAX)$27.70-3.10%
  • daiDai(DAI)$1.00-0.11%
  • Lido Staked EtherLido Staked Ether(STETH)$1,619.48-5.70%
  • matic-networkPolygon(MATIC)$0.88-5.43%
  • tronTRON(TRX)$0.068458-3.00%
  • Shiba InuShiba Inu(SHIB)$0.000011-13.18%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,930.00-4.02%
  • ethereum-classicEthereum Classic(ETC)$37.07-3.01%
  • leo-tokenLEO Token(LEO)$4.932.63%
  • OKBOKB(OKB)$17.93-2.64%
  • litecoinLitecoin(LTC)$58.58-6.73%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.36-3.09%
  • FTXFTX(FTT)$29.36-6.85%
  • chainlinkChainlink(LINK)$8.44-3.68%
  • UniswapUniswap(UNI)$8.42-4.70%
  • CronosCronos(CRO)$0.144321-4.87%
  • cosmosCosmos Hub(ATOM)$10.86-10.23%
  • FlowFlow(FLOW)$2.95-4.43%
  • stellarStellar(XLM)$0.120805-0.48%
  • moneroMonero(XMR)$158.42-6.34%
  • bitcoin-cashBitcoin Cash(BCH)$132.93-7.85%
  • algorandAlgorand(ALGO)$0.343031-11.11%
  • vechainVeChain(VET)$0.029667-6.99%
  • ApeCoinApeCoin(APE)$6.84-8.27%
  • filecoinFilecoin(FIL)$8.05-8.71%
  • Internet ComputerInternet Computer(ICP)$7.75-7.41%
  • ChainChain(XCN)$0.0896640.82%
  • decentralandDecentraland(MANA)$1.02-7.93%
  • HederaHedera(HBAR)$0.074173-7.93%
  • The SandboxThe Sandbox(SAND)$1.28-7.58%
  • QuantQuant(QNT)$121.74-5.81%
  • tezosTezos(XTZ)$1.78-7.58%
  • Axie InfinityAxie Infinity(AXS)$17.49-6.77%
  • theta-tokenTheta Network(THETA)$1.51-7.88%
  • ElrondElrond(EGLD)$61.23-8.62%
  • FraxFrax(FRAX)$0.98-2.32%
  • AaveAave(AAVE)$97.33-5.72%
  • Lido DAOLido DAO(LDO)$2.26-3.92%
  • true-usdTrueUSD(TUSD)$1.00-0.10%