Advertisement
AD

Main navigation

Peter Thiel-Backed Bitpanda Fires 730 Employees

Advertisement
Fri, 24/06/2022 - 20:30
Peter Thiel-Backed Bitpanda Fires 730 Employees
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Vienna-based cryptocurrency exchange has fired 730 employees due to unfavorable market conditions, according a Friday announcement.

Advertisement

The trading platform, which is backed by PayPal co-founder Peter Thiel, says that the “difficult decision” was taken so that the company would remain “financial healthy.”

Last August, Bitpanda reached a valuation of more than $4 billion after raising $260 million during its Series C funding round. The funding allowed the company to expand its headcount.

Related
Celsius Facing Bankruptcy: Report
Bitpanda isn’t the only cryptocurrency company that has announced massive layoffs over the past few weeks. As reported by U.Today, Coinbase, the top U.S. crypto exchange, axed 18% of its staff in a shocking move. BlockFi, Gemini, Bitso are also among the prominent crypto companies who recently went on a firing spree.

In the meantime, FTX, Ripple, OpenSea and some other crypto companies have bucked the trend by actually expanding their staff.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
ApeX Protocol Partners with Alertatron to Enhance Automated Trading Capabilities
TeachMeCode Institute Announces Grand Opening of Cutting-Edge Dubai School
Our social media
There's a lot to see there, too

Popular articles