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Crypto lender BlockFi cuts staff by 'roughly 20%'

From theblockcrypto.com

Crypto lending firm BlockFi said Monday that it is laying off "roughly 20%" of its staff. In a blog post, penned by co-founders Zac Prince and Flori Marquez, the company cited "market conditions that have had a negative impact on our growth rate and a rigorous review of our strategic priorities." BlockFi said its team had grown to more than 850 people. "Since Q1 of 2022, the macroeconomic environment has shifted dramatically, sparking a dramatic pull back in equity and crypto markets. As a result, our number one goal has been to achieve profitability so that we can own our destiny as we navigate what many expect ... (full story)

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