Breaking News: Coinbase to slash 950 Jobs in 2023!

Breaking News: Coinbase to slash 950 Jobs in 2023

[{"selector":"#anim-04bd6ad1-31ae-441b-b5d7-9afd89ce2470 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.284090795523493%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Coinbase, the largest U.S. cryptocurrency exchange is another casualty of the bear market as it has decided to slash 950 jobs, which is about 20% of its total workforce.

This restructuring plan is expected to be completed in the second quarter of 2023, which demonstrates just how long this bear market is likely to last.

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It seems that Coinbase's decision to let go of 950 jobs is part of a wider trend occurring across the industry.

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Reason behind the job cuts?

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In a shocking turn of events, the crypto trading industry has seen a major decrease in jobs due to declining trading volumes.

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This has had a major impact on exchanges, who have seen their revenues drop significantly.

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The news of job cuts has come as a shock to many and has left many in the industry wondering what the future holds for them.

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Still the good news is, brian armstrong stated that coinbase is well-capitalized and crypto market is not going anywhere.

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