.bitpanda has joined coinbase and other major crypto companies by firing a significant portion of its staff
The trading platform, which is backed by PayPal co-founder Peter Thiel, says that the “difficult decision” was taken so that the company would remain “financial healthy.”
Last August, Bitpanda reached a valuation of more than $4 billion after raising $260 million during its Series C funding round. The funding allowed the company to expand its headcount.Bitpanda isn’t the only cryptocurrency company that has announced massive layoffs over the past few weeks. As reported by U.Today, Coinbase, the top U.S. crypto exchange, axed 18% of its staff in a shocking move.
In the meantime, FTX, Ripple, OpenSea and some other crypto companies have bucked the trend by actually expanding their staff.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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