cryptocurrency businesses that have laid off employees, halted withdrawals, or declared bankruptcy

The cryptocurrency sector is in utter disarray. Popular cryptocurrency tokens like Bitcoin and Ethereum have plummeted by roughly 70% from their record highs as a result of the financial crisis.

Some of the top Crypto firms are laying off employees, declaring bankruptcy, and other actions as the market remains in upheaval.

Here are the famous crypto campanies that cut the jobs, stopped withdrawal or gone bankrupt.

Celsius Network: Paused withdrawals, cut 150 jobs

Vauld, a cryptocurrency platform, laid off 30% of its workers, the majority of whom were based in India. As the 2022 crypto winter takes its toll

Deribit asserted Three Arrows failed to return $80 million due to financial difficulties at the hedge firm."

Voyager Digital has sizable holdings in the Singapore-based hedge fund 3AC, which defaulted on a debt worth $650 million, or 15,250 Bitcoins, and $350 million in USDCs.

Leading cryptocurrency exchange Coinbase said that, due to the recession, it will be cutting 1,100 employees, or 18% of its staff.

According to BlockFi CEO Zac Prince, every team within the firm would experience a headcount decrease of about 20%.

A second crypto-trading and lending exchange,, reduced its personnel by 20%. 170 to 200 workers were laid off as a result of the layoffs.

It is true that the market is very bearish, but it is also a good time to buy coins like bitcoin, xlm or etherium, when they are cheap stablecoins are performing well

also the bitcoin halving is upon us soon so the bull run will be insane in coming years

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