Reported 25 days ago
While Bitcoin continues to rally towards record highs, the broader cryptocurrency market faces significant challenges. Companies like Kraken and Consensys are announcing substantial job cuts in light of declining interest in various altcoins and a slowdown in venture capital investment. Despite Bitcoin's impressive growth and positive sentiment surrounding potential regulatory changes, many digital asset firms grapple with structural hurdles in profitability, contributing to an overall bleak outlook for the crypto industry.
Source: YAHOO