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Job Loss Cryptocurrency Crypto Exchange Coinbase Sacks Staff Amid Price Collapse Layoffs 18 Percent Staff

Job Loss Cryptocurrency: When an industry booms, then there are...

Job Loss Cryptocurrency: When an industry booms, then there are jobs out there and when the bad days of an industry start, then the jobs are also taken away immediately. This rule applies to almost every industry. This time it is being implemented on the Cryptocurrency Market. When there was boom, new platforms were opened and lots of jobs were given, now when the market is falling, layoffs have started.

According to a news, Coinbase, one of the world’s largest crypto-exchanges, fired 18 percent of its employees in one stroke on Tuesday. A senior executive at the company’s Singapore-based company said that Coinbase blocked their login access before employees were notified of their termination.

Know why the hotel was booked for drinks party

Clinton Gleave, former Recruitment Manager (Asia Pacific) at Coinbase, said that access to our systems was blocked prior to the termination notice. He said that this information came at a time when I had made a reservation for a drinks party in a hotel yesterday to encourage my team. Gleeve has expressed his displeasure over the news of this layoff in a post written on the social media platform LinkedIn. He wrote how he had contributed to building the Coinbase team in the Asia Pacific region and bringing it from zero to this point.

According to him, he has been fired from Coinbase despite having built the entire team from the beginning and even outperforming others in the Asia Pacific region and now I have to leave Singapore after spending 12 years in Asia and wrap up my whole life. 30 days have been given for this.

He also said that I know that it may not have been so easy for our CEO to take this decision and I have nothing but respect for CEO Brian Armstrong, but still it will not affect the decision.

Coinbase is the world’s third largest crypto-exchange

Significantly, Coinbase is the third largest crypto-exchange in the world. Coinbase on Tuesday announced the layoffs of 1,100 employees, amid a steady decline in cryptocurrency prices and declining investments in it.

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