Blockchain.com Lays Off 25% of Its Staff

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Crypto exchange and crypto wallet operator Blockchain.com has recently fired 150 employees or 25% of its workforce and cut the salaries of top managers, CoinDesk reports.

The number of employees will return to the values ​​at the beginning of the year. In addition, the company plans to close its office in Argentina and suspend hiring in the US and UK.

The company’s expansion plans to some countries are also frozen. Blockchain.com will reduce the institutional lending business, introduce a moratorium on M&A transactions, the development of the gaming direction and the NFT marketplace.

According to the company’s site, its services are used by 37 million users from 200 countries.