This year’s bear market was not kind to most of the crypto firms — making them release thousands of their workers. However, the VeChain foundation is looking to hire more than a hundred developers, according to a tweet by Watcher Guru.
VeChain said that they are expanding their team in Europe, “pushing out new tools, technologies, developer libraries and so on.” They said:
“We’ve opened a new technology center in Ireland and are hiring 100+ devs at the moment.”
Furthermore, according to Watcher Guru, VeChain might soon head to San Marino. “We also have opened a new HQ in San Marino, and will be legally based in Europe soon which better serves our longer-term plans,” they told Watcher Guru.
Although the firm didn’t comment on its future plans for Europe, VeChain reportedly has $535 million in Bitcoin (BTC), Ethereum (ETH), and the platform’s native utility token, VET.
According to Watcher Guru, VeChain has already secured multiple partnerships since last year — including adding UCO Network and TruTrace “as partners” soon for future projects.
It’s important to note that VeChain is trying to secure a spot in San Marino — a mountainous micro-country — and is working to legally register the platform in Europe.
Too many layoffs in 2022
The 2022 bear market made a lot of crypto firms rethink their strategies and budgets, leading to too many layoffs. One of the top companies to release a massive number of their employees was Coinbase, a U.S.-based cryptocurrency exchange.
Coinbase cut off 18% of its workforce of 6,100 employees in June. "We appear to be entering a recession after a 10+ year economic boom," said Coinbase CEO Brian Armstrong in a published note.
Other notable firms to have laid off their employees are crypto broker Genesis, crypto miner Core Scientific and Robinhood, to name a few.