Crypto Dot Com Lay Offs

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Crypto dot com cut about five %, or 260 employees from their work force in june. They blamed it on the bear market in crypto. The ceo addressed the second wave of lay offs this past week after a lot of he lay offs had already occurred. He apparently said something along the lines of, you know, the company isn't public, so we don't need to announce these lay offs publicly.

Welcome back. This week, Jacquelyn and Anita ran the show while Lucas was out. We recapped a must-watch interview by Coinage with Do Kwon, the now-infamous founder of Terraform Labs whose algorithmic stablecoin de-pegged from the U.S. dollar, sending the crypto markets into chaos. This was Kwon’s first interview since the coin’s collapse in May, which wiped out some $60 billion in value. Is he remorseful? Aren’t the authorities after him? We got into all those questions and more.

We also discussed acquisition drama for the second week in a row, this time between Galaxy Digital and crypto custodian BitGo. Finally, we went through news of recent, highly secretive layoffs at Crypto.com as the exchange looks to expand its user base abroad.

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Helpful links:
https://techcrunch.com/2022/06/16/cryptos-emphasis-on-community-could-lead-followers-off-a-cliff/
https://techcrunch.com/2022/05/25/terra-community-passes-proposal-to-revive-luna-cryptocurrency-following-stablecoin-led-implosion/
https://techcrunch.com/2022/07/27/ftx-ceo-leads-trustless-medias-seed-round-to-help-build-community-owned-web3-shows/
https://techcrunch.com/2022/08/15/galaxy-digital-calls-off-its-1-2-billion-acquisition-of-bitgo/

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