Popular Crypto tax tool platform reduced the strength of its employees by a very big number amid the ongoing economic downturn in the world.
CoinTracker is a Crypto Tax Calculator. Crypto investors can easily connect the majority of the top Crypto exchanges like Coinbase and Binance to calculate crypto taxes easily. In the last year, this platform showed a significant appearance in the Crypto sector because of increasing new crypto tax rules on crypto investment in several countries.
In June 2023, This company raised $100 million at a valuation of $1.3 billion and invited global talents to join the company.
Recently this company laid off 19 employees from the company, which is equal to 20% of the total staff of the company.
Perhaps the company didn’t announce this information officially but the CEO of this company confirmed this news.
Mass layoffs
In the recent few months, Crypto industry saw layoffs of huge numbers of employees from many companies e.g Coinbase, Genesis, and Huobi crypto exchanges reduced their workforce by a very big number.
Here layoffs of employees are going on among not only Crypto companies but international tech companies like Amazon, Meta, Amazon, Alibaba, Credit Suisse, Cineplex, Tencent, Better.com, and Twitter, reduced a very big part of the workforce.
Global recession & opportunities
According to the majority of the financial experts, the current phase of the economic market is under a critical situation and here big countries’ Central Banks are showing their monopoly, which is resulting in a very big problem for small countries.
Due to high inflation, the price of crypto & stock assets are dumping badly and these are creating a better opportunity to buy the best asset at discount.
Just a couple of days ago, a popular financial advisor Robert Kiyosaki suggested people buy Gold, Silver & Bitcoin amid the global recession.
Read also: Nigerians moving toward Bitcoin amid national currency redesigning procedure
CoinTracker reduces workforce by 20%
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