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
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

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD