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Crypto Apocalypse Now: Industry Leaders Unleash Bloody Purge, Mass Layoffs and Fee Hikes

A chaotic cityscape with flames engulfing skyscrapers, people running frantically through the streets while others lie motionless amidst destruction. A giant cryptocurrency chart in the background shows a sharp decline in value as multiple figures of CEOs and executives are shown being dragged away by masked individuals representing market volatility.

Consensys cuts 20% workforce as Kraken lays off another chunk; Circle raises fees for institutional investors.

Source: cointelegraph

A wave of headcount reductions is sweeping the crypto industry. In a major restructuring, blockchain development firm Consensys reduced its workforce by more than 20%. Joe Lubin, CEO of Consensys and co-founder of Ethereum, confirmed to Cointelegraph that 162 employees were affected.  Crypto exchange Kraken has also reduced its workforce, with reports indicating a reduction of 15% of the company’s staff, or almost 400 people. Kraken last laid off employees […]

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