๐จ Cryptocurrency wallet maker Ledger reduces staff by 12% ๐ข CEO Pascal Gauthier announced the staff cuts "for the longevity of the business," citing the 2022 bear market and the collapse of companies like FTX and Voyager Digital .
๐ "Macroeconomic headwinds are limiting our ability to generate revenue," Gauthier said. Approximately 88 people could have lost their jobs.
๐ฐ The news comes 7 months after Ledger raised more than $109 million in a funding round, valuing the company at $1.4 billion. In August, Ledger integrated its Live software with PayPal, allowing US residents to purchase cryptocurrencies.
๐ Many crypto companies have announced similar staff cuts amid an uncertain market and changes in the US regulatory environment. Binance.US, Nansen, Coinbase, Huobi and Crypto.com also announced layoffs for 2023.
๐ฌ What do you think of these staff cuts in the crypto world? Comment below!
๐ "Macroeconomic headwinds are limiting our ability to generate revenue," Gauthier said. Approximately 88 people could have lost their jobs.
๐ฐ The news comes 7 months after Ledger raised more than $109 million in a funding round, valuing the company at $1.4 billion. In August, Ledger integrated its Live software with PayPal, allowing US residents to purchase cryptocurrencies.
๐ Many crypto companies have announced similar staff cuts amid an uncertain market and changes in the US regulatory environment. Binance.US, Nansen, Coinbase, Huobi and Crypto.com also announced layoffs for 2023.
๐ฌ What do you think of these staff cuts in the crypto world? Comment below!