Home / Business and Economy / Crypto Firm Cuts 14% Workforce Amid Digital Asset Slump
Crypto Firm Cuts 14% Workforce Amid Digital Asset Slump
12 Aug
Summary
- Bitwise Asset Management reduced staff by approximately 14%.
- The firm's workforce decreased from about 180 to 155 employees.
- These layoffs occurred during a significant downturn in digital asset prices.
Bitwise Asset Management has implemented significant workforce reductions, letting go of approximately 14% of its staff. This move saw the San Francisco-based firm's employee count decrease from around 180 to approximately 155 individuals.
The layoffs are directly attributed to a prolonged slump in digital-asset prices. This market downturn has created challenging conditions for firms operating within the cryptocurrency space.
Despite these staff reductions, Bitwise Asset Management continues its operations. The firm's actions highlight the broader economic pressures impacting the digital asset industry as a whole.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
