Hi HODLers,
You probably have followed the latest announcements of layoffs in our industry. First of all, I would like to emphasize that this is happening throughout the Tech industry, even established worlwide companies such as Tesla are thinking to cut their labor force by 10%!
Layoffs announcements this week:
- Gemini laid off 10% of its staff;
- Coinbase instituted a hiring freeze and rescinded accepted job offers;
- Mexico's largest crypto exchange Bitso laid off 10% of its staff;
- Argentina-based crypto exchange Buenbit laid off 45% of its staff.
Coinbase got some very bad Public Relation drama as it rescinded a lot of its offers and people affected took the issue to social networks to share their disappointment.
More in this article from Coindesk.
Crypto exchanges are under heavy pressure as Token prices dropped and volume has been the lowest it has been for years.
Breathe, go outside to touch grass. Everything will be all right. If we compare to 2018-2019 Winter, there was a serious threat to Crypto even still being there later on.
This time around, nobody thinks Cryptocurrencies are over, institutional money keeps pooring in and intelligent workers keep pursuing careers in the industry.
Change the narrative!
Talking to a lot of people in the industry, everyone is pushing the narrative from Bear Market to Build Market, I actually am more excited since prices went down as I see the shitcoins go down and builders slowly improving their products!
This is the time to invest and research!
Stay safe out there,