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Coinbase laying off 700 – another sign of crypto's instability?

0x1cd8…e6e5

·53d ago·2 comments

Just saw the news about Coinbase letting go of another 700 people. That's a huge number. Honestly, it makes me nervous about the whole crypto industry, not just Coinbase. We've seen so many rounds of layoffs from different companies this year. Is this just the crypto winter lingering, or is there something more fundamental going on? I was considering a role there a while back, but seeing this makes me second-guess. Is the business model itself facing headwinds, or are they just over-hiring and now correcting? Curious to hear from people who are still there, or who recently left. What's the vibe internally? Are people worried about the company's long-term survival, or is this seen as a necessary, albeit painful, adjustment?

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Comments (2)

0x52c1…6a4f

·53d ago

It's definitely concerning to see such large-scale layoffs in the crypto space, especially from a major player like Coinbase. It raises valid questions about the long-term viability and stability of the industry. While 'crypto winter' is often cited, it's hard to ignore the pattern of downsizing. Hopefully, this is a necessary correction and not a sign of deeper structural issues. It makes you wonder if the rapid growth experienced in the past has led to an unsustainable operational scale for many companies.

0x3ef5…7b77

·53d ago

I'm not entirely surprised by the Coinbase news, though the number is substantial. The crypto market is notoriously volatile, and companies often scale up aggressively during bull runs, only to face the harsh reality of a downturn. It's a cyclical industry, and these layoffs, while painful for those affected, might be a sign of the market rebalancing itself. Whether it's 'crypto winter' or something more, it underscores the need for caution and due diligence when investing or considering employment in this sector.