Layoffs Continue as Cryptos Selloff

According to the The Wall Street Journal, the value of cryptocurrency is down 87% from January and companies are laying off employees to survive. Blockchain venture firm ConsenSys says it’s culling 13% of its staff, while blockchain-based social network Steemit blames the market’s biggest selloff to date for losing 70% of its employees last week. reports the number of job searches relating to blockchain and cryptocurrency has fallen 3% in a year — compared with an increase of 482% the previous year.

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