Crypto winter has come, and Coinbase is in bother

Illustration by Alex Castro / The Verge

Coinbase is pulling again on its hiring efforts. In a memo posted to Coinbase’s website, chief individuals officer L.J. Brock introduced that Coinbase is placing a pause on hiring new staff, in addition to rescinding a number of job affords already accepted by potential employees, citing “present market circumstances and ongoing enterprise prioritization efforts.”

The shift comes because the cryptocurrency market continues to development downwards, dragging the supposedly immovable stablecoins, that are pegged to a fiat forex or commodity, with it. Coinbase began to sluggish hiring in mid-Could to ensure the corporate is “finest positioned to succeed throughout and after the present downturn,” however this transfer halts hiring utterly. Brock notes that the freeze will even…

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