Bitwise Cuts 14% of Staff as Crypto Slump Reaches ETF Issuers
60-second summary
Bitwise is cutting 14% of its staff, mirroring Coinbase's May layoffs, amidst a crypto market downturn that's now affecting ETF issuers, exacerbating industry-wide job cuts. BitMEX and BitMart have already shut down, while other companies are reevaluating their workforce as the market struggles, potentially leading to a talent shortage in the sector.
The reduction matches the percentage shed by Coinbase in May, and follows shutdowns at BitMEX and BitMart.