Major cryptocurrency companies, including Algorand, Gemini, Block, OP Labs, PIP Labs, Messari, and Crypto.com, are carrying out mass layoffs. The total number of dismissed employees exceeds 450, accounting for between 10% and 25% of the workforce at most projects. The reasons cited include an uncertain macroeconomic environment, a downturn in the crypto market, and a decline in asset values. Some companies, such as Gemini and Block, attribute the layoffs to the implementation of artificial intelligence.
However, experts note that this is a forced measure during a crisis, aimed at cutting costs and waiting for better times.