Crypto: Bybit to slash 30% workforce again
Bear markets have come and gone. Over the last several years, the industry has witnessed several terrifying bear markets. The ongoing one, however, seems to be hurting the crypto-verse the most. While bankruptcies took over the market, mass layoffs also dominated the front stage. Although the community found some solace in Bitcoin [BTC] reclaiming $17K, Bybit’s most recent news alarmed many. Over the weekend, Ben Zhou, the co-founder, and CEO of Bybit revealed that the firm was carrying out its second round of layoffs. As per this, the firm’s total workforce would be cut by 30 percent. This time, the layoffs would reportedly be across the board as well. While noting that it was a “difficult decision,” Zhou said, “tough times demand tough decisions.” He further suggested that this was done in light of the firm’s efforts in the re-organization of the business amidst the detrimental bear market. The Bybit CEO added, “We are all sad...