Crypto tax and portfolio management company CoinTrackerciting market conditions laid off 20 percent of its staff.
In the crypto industry, the impact of market conditions and bad events in the industry continues to affect companies. In particular, the FTX and Alameda crisis has affected thousands of crypto actors. There has been a period of intense bankruptcies and layoffs on the part of crypto companies. Finally, CoinTracker citing the market conditions and laid off 19 people, accounting for 20 percent.
CoinTracker Fires 19 People
Cryptocurrency CoinTrackeraccounting for 20 percent of its staff despite the harsh crypto winter announced that it had laid off 19 employees.
The company attributed this decision to the painful market conditions and the effects of the over-hiring period. The crypto startup has been involved in the ongoing stream of layoffs on the tech and crypto side.
Co-founder and CEO of the company Jon Lerner made some statements about the sector. Lerner the other day, “Today we are facing crypto winter, high inflation and rising interest rates, an unstable economy and additional headwinds with crypto tax regulations.”said.
Also, a company spokesperson confirmed the layoffs and 15 out of 19 people work in customer supportexpressed.
