🤡 Oh no! Ledger, the famous crypto hardware wallet maker, is cutting 12% of its workforce due to "macroeconomic headwinds" 🌬️. CEO Pascal Gauthier says it's a tough but necessary decision to ensure the company's survival in this wild crypto market 🎢.
😱 Ledger's struggles mirror the broader crypto industry's woes, with rising interest rates, strict regulations, and the collapse of once-popular sectors like NFTs 🎨. In fact, 95% of over 73,000 NFT collections have become almost worthless 😵💫.
🔗 Ledger isn't alone. Other crypto firms, from big exchanges to niche service providers, are also cutting costs and downsizing. Chainalysis, a blockchain data firm, recently announced a 15% workforce reduction 😔.
🔐 Ledger, founded in 2014, is known for its secure devices that store private keys for blockchain assets. Its devices are crucial, reportedly protecting 20% of all cryptocurrencies worldwide and 30% of global NFTs 🌍.
🌈 Despite the challenges, Ledger has shown resilience. Earlier this year, they secured €100 million ($109 million) in funding, valuing the company at €1.3 billion 💰. Here's hoping that Ledger and other crypto companies can weather the storm and emerge stronger 💪.
😱 Ledger's struggles mirror the broader crypto industry's woes, with rising interest rates, strict regulations, and the collapse of once-popular sectors like NFTs 🎨. In fact, 95% of over 73,000 NFT collections have become almost worthless 😵💫.
🔗 Ledger isn't alone. Other crypto firms, from big exchanges to niche service providers, are also cutting costs and downsizing. Chainalysis, a blockchain data firm, recently announced a 15% workforce reduction 😔.
🔐 Ledger, founded in 2014, is known for its secure devices that store private keys for blockchain assets. Its devices are crucial, reportedly protecting 20% of all cryptocurrencies worldwide and 30% of global NFTs 🌍.
🌈 Despite the challenges, Ledger has shown resilience. Earlier this year, they secured €100 million ($109 million) in funding, valuing the company at €1.3 billion 💰. Here's hoping that Ledger and other crypto companies can weather the storm and emerge stronger 💪.