CoinTracker Joins Staffing Companies

Crypto tax and portfolio management firm CoinTracker has laid off 20 percent of its staff, citing market conditions.
 CoinTracker Joins Staffing Companies
READING NOW CoinTracker Joins Staffing Companies

Crypto tax and portfolio management firm CoinTracker has laid off 20 percent of its staff, citing market conditions.

In the crypto industry, the impact of market conditions and bad events in the industry continues to affect companies. In particular, the FTX and Alameda crisis has affected thousands of crypto actors. There has been a period of intense bankruptcies and layoffs on the part of crypto companies. Finally, CoinTracker laid off 19 people, accounting for 20 percent of its staff, citing market conditions.

CoinTracker Fires 19 People

Crypto startup CoinTracker has announced that it has laid off 19 people, or 20 percent of its staff, despite the harsh crypto winter.

The company attributed this decision to the painful market conditions and the effects of the over-hiring period. The crypto startup has been involved in the ongoing stream of layoffs on the tech and crypto side.

The founding partner and CEO of the company, Jon Lerner, made some statements about the sector. “Today we are facing crypto winter, high inflation and rising interest rates, an unstable economy and additional headwinds with crypto tax regulations,” Lerner said the other day.

In addition, a company spokesperson confirmed the layoffs and stated that 15 of the 19 people worked in the customer support side.

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