In January 2023 the increase in the price of Bitcoin can be said to be extraordinary even though there is still a correction in the market as seen today. But there is a strange but real thing that happened to the 14 largest crypto companies where they in January started to cut the number of their workers which is at least 2,900 workers or almost 3,000 for staff. These companies are Coinbase, Gemini, Digital Currency Group, ConsenSys, and Blockchain.com.
I don't know why these companies are laying off some of their staff this month, even though in general the movement of Bitcoin is working very well this month and also has the possibility to remain good in the next month if nothing bad happens that can affect the market and Bitcoin as a whole general.
Reference Source: https://cointelegraph.com/news/crypto-firms-cut-nearly-3-000-jobs-in-january-despite-bitcoin-s-rise
The easiest way to keep profitability steady is to cut costs. That doesn't necessarily mean the business is bad. It's just a way to appease shareholders and unfortunately it's always the employees who bear the brunt. I don't know why these companies are laying off some of their staff this month, even though in general the movement of Bitcoin is working very well this month and also has the possibility to remain good in the next month if nothing bad happens that can affect the market and Bitcoin as a whole general.
Reference Source: https://cointelegraph.com/news/crypto-firms-cut-nearly-3-000-jobs-in-january-despite-bitcoin-s-rise
