Today news
About the same in other media
Crypto exchange Kraken to cut about 1,100 global jobs
Reading now: 291
Cryptocurrency exchange Kraken said on Wednesday it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year.
Higher interest rates and worries of an economic downturn have roiled cryptocurrencies as investors dump risky assets, with recent bankruptcies adding to the uncertainty.
"Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets," the company said.
Also Read | US crypto broker Genesis says it is working to avoid bankruptcy filing
Kraken said the reduction will take its total headcount to where it was 12 months ago, and that it has seen a drop in trading volumes and fewer client sign-ups.
Read more on moneycontrol.comAbout this in other media
Crypto exchange Kraken to lay off 1,100 as industry pain deepens livemint.com /1 year ago
Crypto exchange Kraken to lay off a third of its workforce finextra.com /1 year ago
Binance Acquires 100% of Japanese Crypto Exchange Sakura Exchange BitCoin – Here's Why cryptonews.com /1 year ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
