Wednesday, February 1, 2023
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Terms and Conditions
  • Contact us
coindesk, cointelegraph, ftx, coindesk ethereum, coindesk luna, coindesk ceo, cointelegraph news, cointelegraph app,
No Result
View All Result
  • Home
  • BITCOINS
  • CRYPTO NEWS
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • NFT
    • MINING
    • Regulations
  • BLOCKCHAIN
  • WEB3
  • METAVERSE
  • Guides 99
  • Cryptocurrency Wallets
  • Margin Trading
Crypto Marketcap
  • Home
  • BITCOINS
  • CRYPTO NEWS
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • NFT
    • MINING
    • Regulations
  • BLOCKCHAIN
  • WEB3
  • METAVERSE
  • Guides 99
  • Cryptocurrency Wallets
  • Margin Trading
No Result
View All Result
coindesk, cointelegraph, ftx, coindesk ethereum, coindesk luna, coindesk ceo, cointelegraph news, cointelegraph app,
No Result
View All Result
Home Blockchain

Hong Kong’s OSL and US-Primarily based Abra Grow to be the Newest Crypto Corporations to Announce Layoffs

by cryptostandard
July 1, 2022
in Blockchain
Reading Time: 3 mins read
A A
0
#


Abra, a California-based crypto buying and selling and lending platform, and OSL, a licensed crypto trade based mostly in Hong Kong, are the most recent in a string of crypto start-ups which have introduced layoffs following the continuing market turbulence.

Abra laid off 12 of its workers this week, and two sources aware of the data disclosed the matter.

Invoice Barhydt, Abra CEO, confirmed the job cuts, stating that the corporate has reduce 12 jobs purely as a part of its cost-saving measures. The manager said that layoffs translated to five% of the workforce.

Barhydt mentioned though Abra has trimmed sure jobs, the agency continues to be planning to rent extra skills to fill numerous roles. Whereas he didn’t point out particular job capabilities, he said that an estimated 10 positions are presently open.

In the meantime, Hong Kong-based digital asset buying and selling platform, OSL, has slashed between 40 and 60 jobs, which is about 15% of its workforce, two people aware of the supply disclosed the event. The crypto trade introduced the job cuts on Wednesdays.

An OSL spokesperson confirmed the incident and mentioned: “OSL has made the troublesome determination to scale back headcount. This determination was not made evenly, and we perceive the influence that this will likely have on workers.”

The OSL spokesperson additional mentioned the agency has adjusted its enterprise mannequin to resume its concentrate on SaaS {and professional} and institutional counterparts.

The spokesperson clarified that OSL made the layoffs not as a result of it had any publicity to distressed crypto corporations or tokens, together with TerraUSD (UST) and staked ether (stETH).

“It is very important be aware that OSL has not had any publicity to stETH, luna or UST. Nor have we had publicity to any of the corporations reportedly going through solvency points,” the spokesperson mentioned.

Abra and OSL have subsequently joined a number of crypto corporations that lately introduced huge layoffs. Many crypto firms have laid off hundreds of workers and frozen hiring amid difficult instances for crypto and fairness markets.

Final month noticed greater than 1,700 crypto job cuts within the crypto business. Main crypto firms reminiscent of Gemini, Coinbase, Crypto.com, BlockFi, Mexico-based Bitso, Argentina’s Buenbit, and others, trimmed their workforces in June.

Picture supply: Shutterstock



Source link

Tags: AbraAnnounceBitcoin NewsCryptoCrypto NewsCrypto StandardCrypto UpdatesFirmsHongKongslatestLatest Bitcoin NewsLayoffsOSLUSBased
Previous Post

New York State Denies Air Allow to Greenidge Crypto Mining Facility on Seneca Lake

Next Post

Blockchain.com, Deribit Amongst Collectors That Pushed for 3AC Liquidation: Report

Related Posts

Celsius’ Official Creditor Committee Denies Rejected Bids

by cryptostandard
February 1, 2023
0

There have been rumours circulating that the bids for Celsius' crypto property have been turned down, nonetheless the lawyer who...

The January figures are 92.7% decrease than the $121.4 million

by cryptostandard
February 1, 2023
0

Throughout the month of January, there was a pointy drop in losses from exploits in comparison with the identical time...

Randall Crater, Founding father of “My Large Coin” Sentenced

by cryptostandard
February 1, 2023
0

Randall Crater, the particular person answerable for working the fraudulent scheme generally known as "My Large Coin," was given a...

5 Predictions for Blockchain in 2023

by cryptostandard
February 1, 2023
0

Blockchain know-how and cryptocurrencies are interwoven with the function of blockchain in providing the peer-to-peer mannequin of monetary transactions. A...

Ethereum to Launch Zhejiang Public Withdrawal Testnet

by cryptostandard
February 1, 2023
0

The "Zhejiang" public withdrawal check internet is scheduled to be stay on February 1 at 15:00 UTC, as said in...

Load More
Next Post

Blockchain.com, Deribit Amongst Collectors That Pushed for 3AC Liquidation: Report

Magic Sq. Raises $3 Million in Binance-Led Seed Funding Spherical

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT
#
#
  • Trending
  • Comments
  • Latest

After approving a crypto mining website, an environmental group has filed a lawsuit in opposition to New York

January 16, 2023

Greatest Crypto Gainers At the moment December 31

January 2, 2023

LUNC value prediction – Will it Lastly Attain $1 in 2023?

January 3, 2023

Over 60% of US dad and mom need faculties to show about cryptocurrency

August 24, 2022

BlockFi Administration Hasn’t Withdrawn any Crypto Since October, Legal professionals Inform Courtroom

January 9, 2023

Why Crypto Software program Firm ConsenSys Is Sacking Practically 100 Employees

January 19, 2023

Celsius’ Official Creditor Committee Denies Rejected Bids

February 1, 2023

Crypto Wallets To Lose Anonymity? Firm Raises $7.5 Million To Make It Occur

February 1, 2023

LevelField Monetary To Develop into First FDIC-Insured Financial institution to Supply Conventional Banking And Bitcoin Providers

February 1, 2023

Bitcoin seeing best divergence in younger vs previous provide

February 1, 2023

Choose Dismisses Proposed Class Motion Swimsuit Alleging Coinbase Bought Unregistered Securities

February 1, 2023

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time Excessive  – Markets and Costs Bitcoin Information

February 1, 2023
coindesk, cointelegraph, ftx, coindesk ethereum, coindesk luna, coindesk ceo, cointelegraph news, cointelegraph app,

Find the latest Bitcoin, Trending Crypto Updates, Altcoins, Blockchain, NFTs, Crypto Regulations, Interviews, Price Analysis, and more at Crypto Standard

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Crypto Standard.
Crypto Standard is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • BITCOINS
  • CRYPTO NEWS
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • NFT
    • MINING
    • Regulations
  • BLOCKCHAIN
  • WEB3
  • METAVERSE
  • Guides 99
  • Cryptocurrency Wallets
  • Margin Trading

Copyright © 2022 - Crypto Standard.
Crypto Standard is not responsible for the content of external sites.