Is It Really a Bull Market? These Crypto Companies Laid Off Employees In a Week
Bitcoin (BTC) is trading a few thousand dollars below its all-time high (ATH) of $73,750, and the global cryptocurrency market cap has increased to $2.46 trillion this year, but digital asset companies are still laying off their employees.
This week alone, three prominent crypto entities have announced significant job cuts, raising the question, is the market indeed in a bull phase?
Crypto Firms Reduce Headcount
On October 29, the Swiss-based decentralized trading platform dYdX revealed that it was letting 35% of its workforce go, citing the need to stick to the company’s long-term plans. dYdX’s CEO and founder, Antonio Juliano, said the firm realized the business it had built was different from the one it must…
