Coinbase lays off 18% of its workforce and warns of 'crypto...

Coinbase lays off 18% of its workforce and warns of 'crypto winter'

CEO Brian Armstrong said in an open letter Tuesday that the "difficult decision" to lay off about 1,000 employees was made to ensure "we stay healthy during this economic downturn." The exchange has more than 4,900 employees, according to its website.Armstrong warned of a looming economic downturn that could extend the latest bear market for crypto."We appear to be entering a recession after a 10-plus year economic boom," Armstrong wrote. "A recession could lead to another crypto winter, and could last for an extended period."
https://edition.cnn.com/2022/06/14/investing/coinbase-layoffs-bitcoin-crypto/index.html