Protocol Labs, Chainalysis and Bittrex add to crypto layoff season

Protocol Labs, Chainalysis and Bittrex add to crypto layoff season- Check out the story here

Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.”

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[{"selector":"#anim-18dce0f0-8b26-454f-8141-1e8d36f6d2ce [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.813401331952118%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] At least 216 jobs were slashed between three crypto firms — open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and cryptocurrency exchange Bittrex Arrow

Juan Benet, CEO of Protocol Labs, the company that launched Filecoin , announced the job cuts in a blog post on Feb. 3

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He stated that the company decided to cut “89 roles,” approximately 21% of its workforce, to ensure it is well positioned to “weather this extended winter.”

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Benet suggested that the company must “prepare for a longer downturn,” given it has been an “extremely challenging” time for the crypto industry.

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According to Washington State employment data on Feb. 2 it was revealed that Bittrex cut 83 jobs.

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These layoffs come after news that at least 2,900 staff were cut across 14 crypto firms in January.

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