The crypto market has been in the doldrums lately, with the total market capitalization of crypto assets below $1 trillion for more than a week now.
Interestingly, following the sharp carnage and unabated liquidations from the crypto space, several exchanges halted the withdrawals from their platform, adding to investors' worries.
Even several crypto-related companies, directly or indirectly, have announced to reduce their headcount significantly, anticipating a dull and long c ..
Among them, the listed crypto business firms are losing interest from investors and facing severe downgrades from the brokerages at large. Even the performance of these companies has been highly disappointing.
Shares of US-listed Coinbase and Microstrategy have plunged as much as 77 per cent and 68 per cent, respectively in the year 2022 so far.
Coinbase is one of the largest crypto exchanges in the world, which recently announced to lay off its 18 per cent or 1,100 workforces. India-based exchange Vauld, backed by Coinbase, is reportedly firing 30 per cent of its workforce amid the gloom.
Coinbase is one of the largest crypto exchanges in the world, which recently announced to lay off its 18 per cent or 1,100 workforces. India-based exchange Vauld, backed by Coinbase, is reportedly firing 30 per cent of its workforce amid the gloom.
