Reported 28 days ago
Consensys, a cryptocurrency firm, announced on Tuesday that it will be reducing its workforce by 20%, affecting 162 of its 828 employees. The company cites ongoing macroeconomic pressures, regulatory challenges from the SEC, and rising interest rates as factors contributing to this decision. CEO Joseph Lubin highlighted that regulatory overreach has resulted in significant job losses and financial burdens for the industry, while also noting the adverse impact of heightened inflation and a lack of regulatory frameworks in some markets.
Source: YAHOO