{"id":124442,"date":"2023-11-09T10:31:23","date_gmt":"2023-11-09T10:31:23","guid":{"rendered":"https:\/\/www.techopedia.com"},"modified":"2023-11-09T10:31:23","modified_gmt":"2023-11-09T10:31:23","slug":"crypto-layoffs-round-up-10-companies-reducing-their-workforce","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/crypto-layoffs-round-up","title":{"rendered":"Crypto Layoffs Round-Up: 10 Companies Reducing Their Workforce"},"content":{"rendered":"

The\u00a0<\/span>cryptocurrency<\/span><\/a>\u00a0industry has experienced unprecedented growth in recent years, fueled by the meteoric rise in popularity and\u00a0<\/span>adoption of this nascent industry<\/span><\/a>.<\/span><\/p>\n

However, despite the industry’s overall upward trajectory, it has recently suffered a brutal comedown due to several factors. As the crypto market downturn rages on, companies within the space are also forced to adapt to changing market conditions and investor sentiment, leading to a series of layoffs across crypto firms.<\/span><\/p>\n

In this article, we will explore some of the recent\u00a0<\/span>high-profile layoffs<\/span>\u00a0that have hit crypto companies.\u00a0<\/span><\/p>\n

10 Most Recent Crypto Layoffs<\/span><\/h2>\n

1. OpenSea Reduces Staff by 50%<\/span><\/h3>\n

Last week, leading\u00a0<\/span>non-fungible token (NFT)<\/span><\/a> marketplace OpenSea announced plans to lay off half its workforce. In a post on X (formerly Twitter), CEO Devin Finzer said that the firm is making “big changes” to focus on a new version, OpenSea 2.0.<\/span><\/p>\n

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So we took a step back and reimagined our operating culture, product, and tech from the ground up.<\/p>\n

And today, we\u2019re re-orienting the team around \u201cOpenSea 2.0,\u201d a big upgrade to our product – including the underlying technology, reliability, speed, quality, & experience.<\/p>\n

— Devin Finzer (dfinzer.eth) (@dfinzer) November 3, 2023<\/a><\/p><\/blockquote>\n