When it comes to cryptocurrency, there is a lot of development that can be currently reported for the time being. It is important to mention that coin base is one of the latest kinds of companies that have been in the position to deal in cryptocurrencies. But there have been a lot of more essential revolutions that have been able to change the course of actions.
It is important to mention that despite a wonderful performance in all these years, this particular cryptocurrency industry is now facing a huge loss. This is evident from the recent decision of coin base to lay off at least 1100 employees in response to a volatile crypto market.
Another Loss Scammed The Crypto Industry About Coinbase Layoffs Raise Alarms About Another Dot-Com Crash
The recent decision by the company to remove the excessive employees and reduce the workforce by at least 18% can show that something is not in good shape when it comes to managing the cryptocurrency. This is an indication of the cryptocurrency crashing down to the lowest value.
This decision has not only impacted the employment opportunities in this industry but is now raising concerns for all the investors who have invested a lot of money in cryptocurrency for the time being. This is one of the most important concerns that must be considered at every cost because this is one of the most volatile industries, and the government and professional economic advice do not even protect it.
What Are The Factors Behind The Removal Of Employee
Coinbase has been one of the latest firms which were doing pretty well. Still, the decision to remove the employees can showcase that the work related to cryptocurrency is decreasing with every passing day.
The decrease can also be because of the recent recession that cryptocurrency has experienced. It was only two days that Bitcoin and other tangents of cryptocurrency were able to touch the lowest value, which has taken away the investors’ confidence.
The investors have already lost 2300 million in the past 2 days, and now in such a situation, after already tolerating such a huge amount of loss, they want to protect the existing investment, which is why they are deciding to withdraw from the market as soon as possible.
The sudden decision to sell off the property is also causing a huge loss to the entire industry, impacting the growth and development of the overall market.
A Recent Survey Conveyed That It Has Nothing To Do With Dotcom Trash
But a recent survey at LinkedIn was able to depict that there is a difference to be all together, and this has nothing to do with dotcom trash. It is important to mention that no shortage of data can be reported concerning the maintenance of all the records that deal in cryptocurrency will stop.
Still, at the same point in time, there has to be a situation in which it becomes possible for a user to understand the exact reason why such a kind decision has been taken over the period. It can be ultimately concluded that this is the best way to develop a better utility and also at the same point of time a better promotion can take place.