Nansen Becomes The Latest Crypto Firm To Announce Staff Cuts — Will Let Go 30% Of Workforce
Portfolio Pulse from Mehab Qureshi
Blockchain analytics firm Nansen has reduced its staff count by 30% due to harsh market conditions, following similar moves by other crypto firms such as Coinbase, Kraken, Crypto.com, and Gemini. Bitcoin is struggling to reach $28,000 levels amid macroeconomic and regulatory challenges.
May 31, 2023 | 4:52 am
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Bitcoin struggles to reach $28,000 levels as macroeconomic conditions and regulatory challenges continue to impact the market.
The layoffs at Nansen and other crypto firms indicate a challenging market environment for cryptocurrencies. This, combined with macroeconomic conditions and regulatory challenges, is likely to put downward pressure on Bitcoin's price in the short term.
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