Bitcoin (BTC) Price Rally Masks Bleaker Picture in Crypto World
Beyond Bitcoin’s rally toward another all-time high and renewed ETF inflows, a bleaker picture of crypto is emerging, one where waning interest in once-hot assets prompts some companies to slash jobs.
On Wednesday, crypto exchange Kraken announced job cuts a person familiar with the matter said amounts to 15% of workers, while rival Coinbase Inc. reported earnings that missed estimates. Software developer Consensys is among other digital-asset firms that recently started trimming jobs.
