Crypto Hiring: Fireblocks Reducing 21 Employees

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Bittime -  Fireblocks, a company known as a specialist in crypto security solutions, announced the layoff of 21 of its staff members or about 3% of the total employees. 

Previously, Polygon Labs, a well-known blockchain development company , also announced the layoff of 60 employees. Both companies stated that the layoffs were carried out out of efficiency rather than financial necessity.

Fireblocks explained that the layoffs are part of a broader restructuring of their go-to-market and customer support operations. Fireblocks talks about creating a more efficient and effective service, a similar rationale to Polygon Labs' previous reasoning.

Fireblocks reached an $8 billion valuation with a Series E round of $550 million in early 2022. Additionally, Fireblocks also hinted that it hopes to expand its operations globally. The company currently has offices in the US, Europe, Asia and Israel.

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Other crypto companies are also restructuring 

Meanwhile, the bitcoin mining company Hut 8 also underwent changes, with the CEO changing. Asher Genoot will be the new CEO, replacing Jaime Leverton who has served as CEO since December 2020. This move indicates a change in the company's view of the CEO role following its merger with US Bitcoin Corp in late 2023.

Although Hut 8 saw its share price rise on Friday amid a bullish week for bitcoin, its overall price is still down more than 35% in 2024. Apart from that, other hiring news also stands out in the crypto industry, such as the announcement that Sara Stratoberdha will replace Kevin Worth as CEO of crypto media company CoinDesk.

Thus, changes and movements in crypto companies such as Fireblocks and Hut 8 provide an illustration of the dynamics that occur in the cryptocurrency industry , which is always moving quickly and adapting to changes in the market and external environment. This also shows that the crypto industry remains an interesting and challenging arena for business people and professionals in it.

Also Read: What is a Token?

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You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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What Are Crypto Wallets?

What are Smart Contracts?

What is Bitcoin and How Does It Work?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.