Difficult economic conditions coupled with a drastic drop in cryptocurrency prices have led to massive layoffs in the blockchain industry.
This week, many in the crypto world were glued to their screens keeping an eye on financial conditions. However, this does not apply to everyone as thousands of people suddenly face the problems of sudden unemployment.
Words of encouragement and compassion also came to Twitter and LinkedIn to comfort those who have been relieved of their duties. Some expressed disappointment, confusion, and anger, while others expressed gratitude, new vision, and reflection.
Recently laid off talent took to social media to let the world know that several companies have stepped up to offer interviews to people in trouble.
Binance has been loud on social media by offering two thousand jobs to replace the thousands that were recently wound up. The company’s CEO and President, Changpeng Zhao or CZ, provided additional support to the newly established talent pool.
CZ continued, “While many projects and exchanges will fight the bear market, many will come back stronger than before. Those who honestly fail will start new projects and learn important lessons from the experience. This is how the industry grows.”
Ripple (XRP) also suggested opportunities through a tweet sent by its CEO, Brad Garlinghouse.
Cryptocurrency exchange Kraken has offered several conditional employment opportunities. A thirty-two page manifesto outlining the corporate culture has been issued for stakeholders wishing to join the company.
Several other companies also sent out tweets offering new job openings.
Halborn Security CEO Rob Behnke tweeted about the fully removed marketing, sales, security and human resources capabilities.
Token prices have plummeted over the past few days, investment firms and exchanges have faced bankruptcy, and Bitcoin’s $23,000 support continues to decline, with some even seeing $8,000 as a near bottom. Many portfolios are colored dark red as many investors seek to hedge their tax losses to ease their financial woes.
Hester Pierce’s criticism had the SEC boiling, and Mark Cuban had some words of wisdom: “As [Warren] Buffett says, ‘When the tide goes down, you’ll see who’s swimming naked.'” Job seekers, investors, and