Coinbase is laying off another 20 percent of its workforce, or about 950 employees, after cutting 18 percent of jobs in June last year, as the cryptocurrency industry experiences a harsh winter in the second half of 2022.
This round of layoff at Coinbase is to reduce the company’s expense, as the industry struggles in the aftermath of the FTX collapse and investors lack confidence in the cryptocurrency market.
Over the last year, the share price of Coinbase is off by around 83%. Currently, the world is undergoing rapid change. A global recession is inevitable, and a war over Taiwan is around the corner. However, Mile Guo said he still thinks that cryptocurrency will thrive in this era.
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