The crypto market slid in the past 24 hours as traders likely took profits after weeks of an uptrend. Ether and dogecoin led the slide among major tokens, falling more than 5%, Cardano’s ADA and Polygon’s MATIC dropped 4%, while bitcoin lost just 1.6%, CoinDesk data show.
Cryptocurrency exchange Luno is the latest company in the industry to make layoffs, setting out to cut 35% of its global workforce.
According to the company’s LinkedIn page, Luno has more than 600 employees, meaning it will cut over 210 jobs. Luno said the layoffs will affect employees in all regions. Headquartered in London, Luno has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney.
Jan 25 (Reuters) – Digital Currency Group-owned Luno said on Wednesday it would cut 35% of its total workforce, the latest in a slew of companies in the digital assets sector to reduce headcount to weather a slump in the cryptocurrency market.
‘NOT business as usual’: Jim Cramer blasts ‘dangerous’ $4.3B bailout of crypto bank — here’s how to prepare for a total collapse of crypto confidence
Facing a wave of withdrawals from skittish investors, a crypto-friendly bank is staying solvent thanks to an unusual multibillion-dollar loan — a move Jim Cramer says should knock you off your chair.