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Crypto CEOs Fearing Worst Is Yet to Come Are Cutting More Jobs

  • Bybit, Swyftx announce headcount cuts of at least 30%
  • StanChart sees Bitcoin at $5,000 as ‘surprise’ scenario
Bloomberg business news
Crypto Exchanges Struggle in Wake of FTX Collapse

Digital assets are already a year into one of the industry’s worst slumps, but judging from recent announcements of steep headcount reductions, crypto executives seem to be bracing for more pain. 

Cryptocurrency exchanges Bybit and Swyftx over the past two days said they’re laying off 30% and 35% of their staff, respectively. The announcements came less than a week after bigger rival Kraken unveiled a similar workforce culling.