In the first month of 2023, cryptocurrency businesses tightened their belts, laying off at least 2,900 employees across 14 different businesses, as reported by Cointelegraph.
According to Cointelegraph, the crypto infrastructure provider Prime Trust, which reportedly reduced its employee count by a third, is the most recent company to reportedly start laying off employees.
As of the time of writing, Prime had 312 employees listed on LinkedIn, so the reduction would translate to an estimated 100 staff reductions.
Cointelegraph further noted that other recent layoffs over the past few days include the firing of 30 employees from the cryptocurrency platform Matrixport, according to a Jan. 27 Bloomberg report, and the firing of approximately 100 employees from the cryptocurrency exchange Gemini, according to a Jan. 23 The Information report.
The biggest employee layoff in January was started by cryptocurrency exchange Coinbase, which on January 10 reduced its workforce by about 950 workers.
(With insights from Cointelegraph)