Crypto exchange Coinbase Global Inc has announced a fresh job cut of over 60.
The job cut from its recruiting and institutional onboarding teams has come during a time when the crypto market has gone silent due to the dramatic financial crisis of crypto exchange FTX that involved more than one party.
Furthermore, this is the second round of job cuts at Coinbase this year, which has come about a week after “crypto market headwinds” contributed to the US-based crypto exchange’s net loss of $544.6 million for the three months ended September 30. In comparison to last year, the company had made a profit of $406.1 million.
According to a spokesman from Coinbase, the company believes that the job cuts will help smoothen the operation as efficiently as possible.
Coinbase cut off a total number of 1,100 jobs or 18% of their workforce in June. The move had come about a week after the company had announced an extension of the hiring freeze…
