The third largest crypto exchange in the world, “KRAKEN”, announces via the platform’s blog that it is cutting the company’s global workforce by 30% (1,100 employees). According to them, the purpose of the layoffs is to adapt to today’s volatile market conditions.
It can be said that this is a very challenging year for crypto investors, when no more than three weeks have passed since the collapse of the second largest crypto giant in the world “FTX”.
The crypto winter and the current market conditions make it difficult for many companies in the field to survive the shaky bear market without getting hurt.
Since the beginning of the year, a number of geopolitical and macroeconomic events have had a significant impact on the financial markets, and as a result on the crypto market and its main exchanges.
