Monday, 15 August 2022

 

 

LATEST NEWS NCC Cadets of GCW Udhampur distribute National flag among households War Veterans, Police Martyrs conclave held at Anantnag Har Ghar Tiranga : 4000 people led by DC Anantnag rally 150 metre flag across Pahalgam Bandipora all set to celebrate I-Day Gurez Youth volunteers, PRIs, students, General Public participate in Tiranga Rallies Batch 2013: Hardeep Grewal Shares Another Poster Of His Upcoming Inspiring Film "Prabhat Pheri” taken out in Kishtwar to sensitize public about ‘Har Ghar Tiranga’ campaign Udhampur becomes first District in JKUT to organize Krishi Bal Sabhas across 75 Panchayats Azadi Ka Amrit Mahotsav : PO ICDS Doda distributes National Flags among kids of Anganwadi centres Har Ghar Tiranga campaign: Mega student rally taken out in Rajouri DDC Rajouri conducts Field Tour, inspects progress of developmental projects Advisor Rajeev Rai Bhatnagar hoists Tri-Colour at Amrit Sarovar Badhori, Bari-Brahmana Shopian braces up for 76th Independence Day Azadi ka Amrit Mahotsav : Kupwara Administration organizes Mega Tiranga Rally, 5000 students take participate Har Ghar Tiranga campaign: District Administration Srinagar establishes national record by displaying 1850 Metres long Tricolour at Bakshi Stadium Tiranga rallies organised across district Kulgam Har Ghar Tiranga: Several Activities organised in Anantnag District Administration Ganderbal organizes River Rafting under Har Ghar Tiranga campaign DC flags off Mega Tiranga Rally at Shopian Lt Governor launches 2nd phase of Skill Development Training Program for women & youth in BFSI Sector Walkathon organized under Har Ghar Tiranga campaign at Jammu

 

BlockFi, Crypto.com lay off hundreds as digital coins crash

Cryptocurrency, Bitcoin, Ethereum, Crypto Investors, Crypto, Digital Coin

Web Admin

Web Admin

5 Dariya News

New Delhi , 14 Jun 2022

Crypto trading and lending exchanges BlockFi and crypto.com have laid off hundreds of employees after the global crypto market was battered owing to a "dramatic shift" in macro-economic conditions.BlockFi CEO Zac Prince said that the company is reducing headcount by roughly 20 per cent and the reduction impacts every team at the company.

"This decision was driven by market conditions that have had a negative impact on our growth rate and a rigorous review of our strategic priorities," he said in a statement late on Monday.The 20 per cent workforce reduction will result in laying off 170 to 200 people from its 850-strong staff.

Since Q1 2022, the macroeconomic environment has shifted dramatically, sparking a dramatic pull back in equity and crypto markets."As a result, our number one goal has been to achieve profitability so that we can own our destiny as we navigate what many expect to be an extended global recession," said Prince.

Earlier, crypto.com announced it's laying off around 260 employees, or nearly 5 per cent of its workforce.Its CEO Kris Marszalek said in a tweet thread that the company's approach is to stay focused on executing against its roadmap and optimising for profitability.

"That means making difficult and necessary decisions to ensure continued and sustainable growth for the long term by making targeted reductions of approximately 260 or 5% of our corporate workforce," he announced.

The layoffs come as the crypto market is facing a turbulent time, with the value of Bitcoin and Ethereum falling consistently.Coinbase has announced to slow hiring and reportedly rescinded over 300 job offers.

"The markets will turn, and when they do, you can be sure that we will be ready to drive and capture the next wave of growth for cryptocurrency adoption," said crypto.com CEO Marszalek.

 

Tags: Cryptocurrency , Bitcoin , Ethereum , Crypto Investors , Crypto , Digital Coin

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2022 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD