🚨 Cryptocurrency wallet maker Ledger reduces staff by 12% 😢 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 .
📉 "Macroeconomic headwinds are limiting our ability to generate revenue," Gauthier said. Approximately 88 people could have lost their jobs.
💰 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.
🔍 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.
💬 What do you think of these staff cuts in the crypto world? Comment below!
📉 "Macroeconomic headwinds are limiting our ability to generate revenue," Gauthier said. Approximately 88 people could have lost their jobs.
💰 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.
🔍 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.
💬 What do you think of these staff cuts in the crypto world? Comment below!