Two weeks of mass layoffsCEO Brian Armstrong recently announced that Coinbase would lay off 20% of its staff.
Patrick T. Fallon / Getty ImagesIn the early days of January, several major companies in the cryptocurrency industry, such as Genesis, Coinbase, Blockchain.com, and Crypto.com, announced plans to significantly reduce their workforces.
For a few of these companies, such as Crypto.com and Genesis, this marks the second round of layoffs within a short period, following previous headcount cuts during the summer due to a decline in cryptocurrency prices.
In this recent spate of layoff announcements, some companies alluded to "unscrupulous actors," while others directly addressed the elephant in the room: FTX's bankruptcy.