đ€Ą Oh no! Ledger, the famous crypto hardware wallet maker, is cutting 12% of its workforce due to "macroeconomic headwinds" đŹïž. CEO Pascal Gauthier says it's a tough but necessary decision to ensure the company's survival in this wild crypto market đą.
đ± 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 đš. In fact, 95% of over 73,000 NFT collections have become almost worthless đ”âđ«.
đ 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 đ.
đ 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 đ.
đ Despite the challenges, Ledger has shown resilience. Earlier this year, they secured âŹ100 million ($109 million) in funding, valuing the company at âŹ1.3 billion đ°. Here's hoping that Ledger and other crypto companies can weather the storm and emerge stronger đȘ.
đ± 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 đš. In fact, 95% of over 73,000 NFT collections have become almost worthless đ”âđ«.
đ 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 đ.
đ 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 đ.
đ Despite the challenges, Ledger has shown resilience. Earlier this year, they secured âŹ100 million ($109 million) in funding, valuing the company at âŹ1.3 billion đ°. Here's hoping that Ledger and other crypto companies can weather the storm and emerge stronger đȘ.