According to a report from The Wall Street Journal, the issuer of USD Coin (USDC), Circle, intends to boost its employment by 15–25% in 2023 despite the widespread trend of layoffs throughout the sector.
Circle is going against the grain of the business landscape by increasing its headcount at a time when the majority of companies in its sector are reducing their workforces in an effort to improve their financial situations.
The bitcoin business was responsible for 41% of all job losses that occurred in 2023. Polygon, Chainalysis, Bittrex, Huobi, Crypto.com, Coinbase, Gemini, Genesis, and Wyre are a few examples of major cryptocurrency companies who have reduced their workforce by a large amount.
The protracted crypto winter and various crypto implosions, which wiped billions of dollars off the balance sheets of several connected firms, were important contributors to the decision made by cryptocurrency corporations to reduce…
