Kraken Cuts 30% of Workforce Amid Crypto Winter

The crypto market has sunk this year, with bitcoin (BTC) losing 63% of its value since the end of 2021 and the total crypto market cap down more than two-thirds in the past 12 months. Companies that ramped up staffing levels during the preceding boom years have had to cut back during the decline. This month alone, publicly traded exchange Coinbase (COIN) trimmed 60 positions, and Unchained Capital, a bitcoin financial-services firm, shed more than 600.

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