Matrixport Lets Employees Go, Leaves Everyone in Discomfort

Here’s some not-so-fun news for the crypto and blockchain community — it looks like Matrixport is joining the increasing list of companies who’ve had to let go of their employees. Here’s what we know about what’s been going on.

Matrixport’s Downsizing

The layoffs at Matrixport have been right across the board, with development, engineering, and support teams all feeling the burn. It’s estimated that somewhere between 10-20% of the company’s staff was affected by the changes, with no clear reason given as to why it had to happen.

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It’s unfortunate news for the crypto and blockchain world, with Matrixport having been one of the more well-known organizations in the space. All we can do is continue to look at what other companies in the space are doing and pass on our best wishes and thoughts to those who were impacted.

Other Companies Making Cuts

Unfortunately, Matrixport isn’t the only crypto or blockchain company that’s had to make challenging decisions recently. Some of the other major organizations in the space that have had to adjust their workforces recently include:

  • Coinbase – forced to make a few rounds of layoffs earlier this year.
  • Circle – also had to let go of some of its employees when the/Company’s OTC desk was closed.
  • Bitmain – had to make some pretty tough decisions when it closed their Beijing facility earlier this year.

It’s unclear what the future of the crypto and blockchain space holds, but it looks like a few tough decisions have had to be made. No matter what, it’s never easy to see these types of things happen, but we can all cross our fingers that better days will be headed our way soon.

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What Have We Learned?

At the end of the day, it’s unclear what the lesson of this story is. All we can do is remain hopeful and optimistic, while still understanding the gravity of the situation. Those affected by the layoffs might have to wait a bit before they can find their footing again, so it’s important to show them some love and to send them some positive vibes in their time of need.

Always remember, no matter what the current environment looks like, the future of cryptocurrencies and blockchain will eventually head in a much brighter direction. That’s what we need to focus on, and we can only keep our fingers crossed that the tide will turn soon.

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