Top crypto layoffs and bankruptcies

There have been several layoffs and bankruptcies in the crypto industry in recent years. Here are some notable examples:

In January 2019, Bitmain, one of the world's largest manufacturers of bitcoin mining equipment, announced that it would be laying off over 50% of its workforce due to the bear market and the company's overexpansion.


In December 2018, ConsenSys, a blockchain software company, announced that it would be laying off 13% of its workforce due to market conditions and a need to refocus its priorities.


In March 2020, Steemit, a blockchain-based social media platform, announced that it would be undergoing a significant restructuring that included laying off 70% of its staff due to financial difficulties.


In October 2020, the Commodity Futures Trading Commission (CFTC) charged the owners of the BitMex cryptocurrency exchange with illegally operating a derivatives trading platform and money laundering. This led to the company's co-founder and CEO, Arthur Hayes, stepping down, and the company reportedly experiencing significant layoff.


In July 2020, Coinsquare, a Canadian cryptocurrency exchange, announced that it would be laying off approximately 20% of its workforce due to the impact of the COVID-19 pandemic on the global economy.


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