Coinbase, the largest cryptocurrency exchange in the United States, announced that it will be firing roughly 1,100 members of its global workforce due to an impending “recession” that will lead to a “crypto winter,” according to CEO Brian Armstrong.
“We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period,” Armstrong wrote to his employees on Tuesday.
“In past crypto winters, trading revenue (our largest revenue source) has declined significantly. While it’s hard to predict the economy or the markets, we always plan for […]
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