{"id":506517,"date":"2022-11-04T09:40:47","date_gmt":"2022-11-04T06:40:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/"},"modified":"2022-11-04T09:40:47","modified_gmt":"2022-11-04T06:40:47","slug":"moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/","title":{"rendered":"# Moonvember kicks off with sweeping staff layoffs across crypto"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29256267a6f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29256267a6f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#%E2%80%9D_Moonvember_kicks_off_with_sweeping_staff_layoffs_across_crypto_%E2%80%9C\" >&#8221; Moonvember kicks off with sweeping staff layoffs across crypto &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#Stripe_cuts_around_1000_staff\" >Stripe cuts around 1,000 staff<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#Dapper_Labs_cuts_22_of_headcount\" >Dapper Labs cuts 22% of headcount<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#Digital_Currency_Group_lays_off_10_of_staff_Report\" >Digital Currency Group lays off 10% of staff: Report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#Galaxy_Digital_reportedly_eyeing_20_workforce_drawdown\" >Galaxy Digital reportedly eyeing 20% workforce drawdown<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#BitMEX_makes_staff_cuts_amid_strategy_pivot\" >BitMEX makes staff cuts amid strategy pivot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#Coinbase_CPO_quits_to_take_a_breather\" >Coinbase CPO quits to take a breather<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#OKX_opens_in_the_Bahamas_%E2%80%94_plans_to_hire_100_locals\" >OKX opens in the Bahamas \u2014 plans to hire 100 locals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\/#Paxos_adding_130_heads_in_Singapore\" >Paxos adding 130 heads in Singapore<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Moonvember_kicks_off_with_sweeping_staff_layoffs_across_crypto_%E2%80%9C\"><\/span>&#8221; Moonvember kicks off with sweeping staff layoffs across crypto &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvM2MxNmIyY2UtN2IxOC00MDhlLTljYjAtMmQyY2MzZTkyOGViLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend.<\/p>\n<p>Crypto companies, including crypto exchanges, venture capital firms and blockchain developers, have been forced to reduce headcount in order to stay nimble amid the bear market. Some, however, have done the opposite, opening up offices in new locations and markets.\u00a0<\/p>\n<p>It comes a few weeks after multiple high-level executives, such as OpenSea\u2019s former chief financial officer, Kraken\u2019s co-founder Jesse Powell and Ripple Labs\u2019 engineering director, have all made headlines for either exiting or stepping down from their roles in the space.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Stripe_cuts_around_1000_staff\"><\/span>Stripe cuts around 1,000 staff <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Patrick Collison, CEO of payments processor S<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>e, said in a Nov. 3 memo that\u00a014% of the firm\u2019s staff \u2014 around 1,000 employees \u2014 would be <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/stripe.com\/en-in\/newsroom\/news\/ceo-patrick-collisons-email-to-stripe-employees\">laid off<\/a>, citing \u201cinflation, energy costs, higher interest rates, reduced investment budgets, and sparser startup funding\u201d as reasons for the cuts.<\/p>\n<p>Collison added it \u201coverhired for the world we\u2019re in,\u201d saying Stripe was \u201ctoo optimistic\u201d about short-term e-commerce growth, underestimating the impact of a wider market downturn and that its operating costs grew too quickly.<\/p>\n<p>The memo says the headcount changes will be uneven across Stripe, and it\u2019s unclear what departments will be affected or how it will affect the crypto side of its business. The payments startup\u00a0released a crypto payouts product in April for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> creators.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Dapper_Labs_cuts_22_of_headcount\"><\/span>Dapper Labs cuts 22% of headcount<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Flow blockchain developer D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>er Labs made the decision on Nov. 2 to cut 22% of its headcount, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dapperlabs.com\/newsroom\/a-message-from-founder-and-ceo-roham-gharegozlou\">impacting<\/a> roughly 130 employees in a memo by founder and CEO Roham Gharegozlou.<\/p>\n<p>Gharegozlou said the \u201cmacroeconomic environment\u201d and the company\u2019s growth from 100 to over 600 employees in less than two years prevented the firm from being \u201cas aligned, nimble, and community-driven as we need to be.\u201d<\/p>\n<p>He said Dapper Labs \u201cstreamlined and focused\u201d its product strategy around a \u201cmore sustainable cost structure\u201d and looked at the skills it needed for the future when deciding who to lay off.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Digital_Currency_Group_lays_off_10_of_staff_Report\"><\/span>Digital Currency Group lays off 10% of staff: Report<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Web3 conglomerate and venture capital firm Digital Currency Group (DCG) let go of around 10% of its workforce, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-01\/crypto-firm-digital-currency-group-dcg-to-cut-staff-by-about-10\">according<\/a> to a Nov. 1 Bloomberg report that saw 10 employees exit the company bringing its headcount to a total of 66.<\/p>\n<p>The cuts were reportedly part of a restructuring with Mark Murphy, DCG\u2019s chief operating officer, also promoted to president, a spokesperson said DCG \u201cmade a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of internal changes\u201d to position the company \u201cfor its next phase of growth\u201d that included \u201cstreamlining\u201d of departments.<\/p>\n<p>Cointelegraph contacted DCG to confirm the report but did not receive a response.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Galaxy_Digital_reportedly_eyeing_20_workforce_drawdown\"><\/span>Galaxy Digital reportedly eyeing 20% workforce drawdown<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Galaxy Digital, the crypto firm founded by Michael Novogratz, is also looking at a potential staff cut of around 20% \u2014 as much as 75 positions \u2014 as per a Nov. 1 Bloomberg report\u00a0that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-01\/novogratz-s-galaxy-digital-explores-workforce-cuts-of-about-20\">cited<\/a>\u00a0sources familiar with the matter.<\/p>\n<p>The company neither confirmed nor denied the rumors, with a spokesperson only saying the firm is \u201cconsidering optimal team structure and strategy.\u201d Yahoo Finance data shows shares of Galaxy Digital are down around 76% year to date, alongside a similar drawdown in crypto prices.<\/p>\n<p>Galaxy Digital was contacted by Cointelegraph to verify the report but did not receive a response.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"BitMEX_makes_staff_cuts_amid_strategy_pivot\"><\/span>BitMEX makes staff cuts amid strategy pivot <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Crypto exchange BitMEX is also making drawdowns across its employees in conjunction with a strategy to pivot away from spot trading and custody services and instead refocus on crypto derivatives.<\/p>\n<p>A BitMEX spokesperson told Cointelegraph on Nov. 1 that an earlier report citing 30% of staff would be cut was \u201cinaccurate and too high,\u201d but with its focus back on derivates trading, an \u201cundesirable consequence\u201d was that \u201cwe had to make changes to our workforce.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Coinbase_CPO_quits_to_take_a_breather\"><\/span>Coinbase CPO quits to take a breather<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The now former chief product officer for crypto exchange Coinbase, Surojit Chatterjee, in a Nov. 3 LinkedIn post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/pulse\/reflecting-my-crypto-web3-journey-time-little-break-chatterjee\/?published=t\">revealed<\/a> he had left his position at the company saying \u201cit\u2019s time to get off the ride and catch my breath.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">After nearly 3 incredible years as CPO <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@coinbase<\/a>, I\u2019m taking a breather &amp; stepping down. Thanks to the entire CB team &#8211; I\u2019m looking forward to continuing to serve <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/brian_armstrong?ref_src=twsrc%5Etfw\">@brian_armstrong<\/a>  and the exec team as an advisor. I\u2019ve shared some reflections here: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/y5qM9VaJ36\">https:\/\/t.co\/y5qM9VaJ36<\/a><\/p>\n<p>\u2014 surchatt.eth (@surojit) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/surojit\/status\/1587900271404863489?ref_src=twsrc%5Etfw\">November 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Chatterjee\u2019s stint at Coinbase lasted three years but said he\u2019d continue to help the company by serving as an adviser to its CEO Brian Armstrong. He said the personal break comes to spend more family time after his father was diagnosed with Alzheimer\u2019s disease and his mother unexpectedly passed away.<\/p>\n<p>An Oct. 28 Securities and Exchange Commission (SEC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1679788\/000167978822000110\/coin-20221028.htm\">filing<\/a> by Coinbase says with Chatterjee\u2019s departure its product, engineering and design teams \u201care being reorganized within a product group structure under which the leaders of such groups will assume responsibility for Coinbase\u2019s product offerings.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"OKX_opens_in_the_Bahamas_%E2%80%94_plans_to_hire_100_locals\"><\/span>OKX opens in the Bahamas \u2014 plans to hire 100 locals <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Meanwhile, crypto exchange OKX appears to be looking to scoop up staff and\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2022\/11\/03\/2548133\/0\/en\/OKX-Secures-Registration-in-The-Bahamas-Opens-Regional-Hub-in-Nassau.html\">said<\/a> on Nov. 3 it plans to fill 100 job openings.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Fidelity to beef up crypto unit by another 25% with 100 new hires<\/em><\/strong><\/p>\n<p>The open positions will only be available to Bahamian local talent as OKX registered as a digital asset business in The Bahamas, forming a new subsidiary to serve as the company\u2019s regional hub and opening an office in the archipelagic nation\u2019s capital city Nassau.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Paxos_adding_130_heads_in_Singapore\"><\/span>Paxos adding 130 heads in Singapore<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>At least 130 new hires based in Singapore will be added over the next three years at blockchain infrastructure firm Paxos, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-02\/blockchain-platform-paxos-to-add-at-least-130-hires-in-singapore\">according<\/a> to a Nov. 2 Bloomberg report, after its local unit received a license to offer digital token payment services.<\/p>\n<p>Paxos Co-founder Rich Teo said up to 180 might be brought in over the three years which would boost its headcount to around 200, a nine-times increase from its current team of 20 in the city-state.<\/p>\n<p>In October,\u00a0$4.5 trillion asset management firm Fidelity Investments told Cointelegraph it is set to hire another 100 people to bolster the firm\u2019s growing digital assets division. <\/p>\n<p>Fidelity, in a statement to Cointelegraph, said that the firm was in a \u201cunique position\u201d to offer exposure to the \u201cemerging\u201d digital asset sector \u2014 as its reasons for pushing for more talent to bolster its Digital Assets arm.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/moonvember-kicks-off-with-sweeping-staff-layoffs-across-crypto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Moonvember kicks off with sweeping staff layoffs across crypto &#8220; The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend. Crypto companies, including crypto exchanges, venture capital firms and blockchain developers, have been&#8230;<\/p>\n","protected":false},"author":1,"featured_media":506518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvM2MxNmIyY2UtN2IxOC00MDhlLTljYjAtMmQyY2MzZTkyOGViLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[110413,74993,74956,78157,117,70551],"class_list":["post-506517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-industry","tag-bitmex","tag-coinbase","tag-stripe","tag-business","tag-inflation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=506517"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/506518"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=506517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=506517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=506517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}