The intense bullish steam that has prevailed for a number of months has led crypto corporations to mass layoffs. Kraken is not any exemption to mass layoffs plaguing the crypto ecosystem. The Kraken chief govt Jesse Powell introduced that the crypto agency is shedding 1100 staff. The choice by the San Francisco-based crypto trade will cut back the headcount by 30%.
Reason behind Layoffs
Lately, the outgoing chief govt Powell admitted the current wave of layoffs is inevitable for crypto employers given their publicity to a bearish market and recession fears within the broader financial area.
In a earlier deal with, Kraken founder Powell attributed the crypto business…