Crypto Goyah Company, Crypto.com Employee Layoffs Again

JAKARTA One of the largest crypto exchange companies, Crypto.com, reportedly plans to cut its employees in the company's latest layoff round. The reduction in employees was triggered by the bear market phase that occurred in recent months in 2022.

This condition has a big impact on crypto exchange companies, including Crypto.com. In fact, previously Crypto.com had cut employees by up to 20 percent due to the sluggish crypto market.

In 2022, the company releases about 250 of its employees from the company. In fact, when reports claim that more than two thousand people are asked to leave or be left to struggle alone.

Until now, the company has not provided clarification regarding its latest decision to reduce employees. Even so, Crypto.com CEO Kris Marszalek claims that in 2022 the company experienced significant growth, but this development was hampered by an incident that rocked the crypto market, especially the FTX bankruptcy case.

Crypto.com, in recent months, Crypto.com has come under strong criticism for a number of factors such as its ad starring Matt Damon, making a mistake in sending ten million US dollars to Australian users at random, and industry concerns about the company's finances.

On the other hand, this company has been audited by audit company Mazars. Mazars claims that crypto assets belonging to Crypto.com users are fully supported by one to one. Interestingly, Mazars, who also audited Binance, a day later decided to stop their project with crypto companies.

Marszalek, in his blog post, continues to explain that layoffs were last in July, which helped the company survive the macroeconomic downturn, but that hasn't taken into account the massive downturn of FTX. This is why the company wants to focus on more efficient financial management.

The decline in the crypto market throughout 2022 has caused a number of crypto trading companies to make difficult and controversial decisions such as cutting employees.

Meanwhile, another crypto exchange company, Coinbase, again cut employees last week. Then, the Kraken crypto exchange conducts a mass layoff. About 1,000 of its employees had to leave the company.