Crypto.com has cut close to 2,000 of its staffers

						Array
(
    [classic-editor-remember] => Array
        (
            [0] => classic-editor
        )

    [_edit_lock] => Array
        (
            [0] => 1665406502:19
        )

    [_edit_last] => Array
        (
            [0] => 19
        )

    [_thumbnail_id] => Array
        (
            [0] => 17719
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_prlipro-post-options] => Array
        (
            [0] => a:3:{s:14:"requested_slug";s:0:"";s:19:"hide_social_buttons";b:0;s:20:"disable_replacements";b:0;}
        )

    [_bsf_post_type] => Array
        (
            [0] => 0
        )

    [_bsf_item_review_type] => Array
        (
            [0] => none
        )

    [_yoast_wpseo_focuskw] => Array
        (
            [0] => Crypto.com
        )

    [_yoast_wpseo_metadesc] => Array
        (
            [0] => It was believed that 1,000 staff were to lose their jobs, but a new report suggests it’s double that many.
        )

    [_yoast_wpseo_linkdex] => Array
        (
            [0] => 71
        )

    [_yoast_wpseo_content_score] => Array
        (
            [0] => 60
        )

    [_yoast_wpseo_estimated-reading-time-minutes] => Array
        (
            [0] => 2
        )

    [_yoast_wpseo_wordproof_timestamp] => Array
        (
            [0] => 
        )

    [post_introduction] => Array
        (
            [0] => It was believed that 1,000 staff were to lose their jobs, but a new report suggests it’s double that many.
        )

    [_post_introduction] => Array
        (
            [0] => field_5e8bb40d3036a
        )

    [time_to_read] => Array
        (
            [0] => 2 mins read
        )

    [_time_to_read] => Array
        (
            [0] => field_5ea04c4ba2fca
        )

    [in_summary] => Array
        (
            [0] => 
        )

    [_in_summary] => Array
        (
            [0] => field_62542d4010cad
        )

    [_yoast_wpseo_primary_category] => Array
        (
            [0] => 7
        )

    [ppma_authors_name] => Array
        (
            [0] => Alex
        )

)

Updated October 10, 2022 | Published October 10, 2022

2 mins read

It was believed that 1,000 staff were to lose their jobs, but a new report suggests it’s double that many.

Crypto.com is understood to be cutting between 30 and 40% of its workforce, or more than 2,000 people’s jobs.

The news from Ad Age, published on Thursday, has dampened the hopes of many tech specialists for finding a job in the cryptocurrency industry.

It means that the previously reported number, of around 1,000 people posted in June, was an understatement.

Crypto.com began to downsize around the same time that the industry experienced one of its biggest shocks with the crash of the Luna and Terra USD.

Crypto.com, which was supposed to buy UEFA Champion League rights in September, reneged on the $495m deal, a sure indicator of the company trying to refocus capital internally and plug financial holes.

Splurging on sports events, teams, and even home stadiums has become the norm in cryptocurrency circles, with everyone doing it.

Crypto.com’s rivals, Binance and FTX, have both invested in various sports facilities and overall exposure to sports audiences.

According to Ad Age, nearly 60% of all layoffs came from non-corporate and non-executive positions.

Crypto.com also pulled out of supporting a Twitch esports streaming deal, despite esports fans being some of the most forward-thinking potential adopters of cryptocurrencies and digital assets in general.

The new numbers serve as a warning sign of what unbridled growth without accounting for major disruptions can lead to.

Meanwhile others, including FTX and Binance, have not relented in their hiring potential. Both companies have been expanding in key regions such as the Middle East and North Africa and have been consolidating their standing globally.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
Best Casinos to play with…
Bitcoin
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
The Ledger: France toughens crypto stance, SEC goes after Coinbase
The Ledger: Crypto criminals face pressure, new regulation rolls in

Similar News

Flybondi 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 8326
            [name] => Flybondi
            [slug] => flybondi
            [term_group] => 0
            [term_taxonomy_id] => 8326
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 8327
            [name] => Mauricio Sana
            [slug] => mauricio-sana
            [term_group] => 0
            [term_taxonomy_id] => 8327
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 5246
            [name] => NFT
            [slug] => nft
            [term_group] => 0
            [term_taxonomy_id] => 5246
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 270
            [filter] => raw
        )

)

Flybondi airline to issue NFT tickets

31/03/2023|18:30

The Argentinian airline Flybondi plans to integrate into web3 by issuing e-tickets as NFTs. The new integration, named Ticket 3.0,...
Ben Ng 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 8324
            [name] => Ben Ng
            [slug] => ben-ng
            [term_group] => 0
            [term_taxonomy_id] => 8324
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 8325
            [name] => Curt Shi
            [slug] => curt-shi
            [term_group] => 0
            [term_taxonomy_id] => 8325
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 5226
            [name] => metaverse
            [slug] => metaverse
            [term_group] => 0
            [term_taxonomy_id] => 5226
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 86
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 8322
            [name] => ProDigital Future
            [slug] => prodigital-future
            [term_group] => 0
            [term_taxonomy_id] => 8322
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 8323
            [name] => Saif Partners
            [slug] => saif-partners
            [term_group] => 0
            [term_taxonomy_id] => 8323
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 5510
            [name] => web3
            [slug] => web3
            [term_group] => 0
            [term_taxonomy_id] => 5510
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 53
            [filter] => raw
        )

)

ProDigital Future to raise $100m for Hong Kong crypto...

31/03/2023|17:47

Hong Kong-based fund ProDigital Future aims to raise $100m this year to invest in digital asset start-ups in a quest...
Aiden Pleterski 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 7125
            [name] => Aiden Pleterski
            [slug] => aiden-pleterski
            [term_group] => 0
            [term_taxonomy_id] => 7125
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 4
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 197
            [name] => Binance
            [slug] => binance
            [term_group] => 0
            [term_taxonomy_id] => 197
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 159
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 5164
            [name] => Changpeng Zhao
            [slug] => changpeng-zhao
            [term_group] => 0
            [term_taxonomy_id] => 5164
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 35
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 5216
            [name] => crypto.com
            [slug] => crypto-com
            [term_group] => 0
            [term_taxonomy_id] => 5216
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 68
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 7372
            [name] => Matt Damon
            [slug] => matt-damon
            [term_group] => 0
            [term_taxonomy_id] => 7372
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 3
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 4984
            [name] => NASDAQ
            [slug] => nasdaq
            [term_group] => 0
            [term_taxonomy_id] => 4984
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 4
            [filter] => raw
        )

    [6] => WP_Term Object
        (
            [term_id] => 1050
            [name] => roobet
            [slug] => roobet
            [term_group] => 0
            [term_taxonomy_id] => 1050
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 7
            [filter] => raw
        )

    [7] => WP_Term Object
        (
            [term_id] => 5219
            [name] => Snoop Dogg
            [slug] => snoop-dogg
            [term_group] => 0
            [term_taxonomy_id] => 5219
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 7
            [filter] => raw
        )

    [8] => WP_Term Object
        (
            [term_id] => 5710
            [name] => telegram
            [slug] => telegram
            [term_group] => 0
            [term_taxonomy_id] => 5710
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 6
            [filter] => raw
        )

    [9] => WP_Term Object
        (
            [term_id] => 2465
            [name] => tether
            [slug] => tether
            [term_group] => 0
            [term_taxonomy_id] => 2465
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 14
            [filter] => raw
        )

    [10] => WP_Term Object
        (
            [term_id] => 4882
            [name] => The Ledger
            [slug] => the-ledger
            [term_group] => 0
            [term_taxonomy_id] => 4882
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 91
            [filter] => raw
        )

    [11] => WP_Term Object
        (
            [term_id] => 4947
            [name] => US Commodity Futures Trading Commission
            [slug] => us-commodity-futures-trading-commission
            [term_group] => 0
            [term_taxonomy_id] => 4947
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 10
            [filter] => raw
        )

)

The Ledger: CFTC goes after Binance, Nasdaq reveals crypto...

31/03/2023|16:24

Binance been assailed by the Commodity Futures Trading Commission (CFTC) which has called out the exchange on “willful evasion of...