OpenSea slashes 20% of its current staff due to unfavorable market conditions. (Reporting via forgeforth_)
"[W]e need to prepare the company for the possibility of a prolonged downturn,” he said, adding:
The changes we’re making today put us in a position to maintain multiple years of runway under various crypto winter scenarios , and give us high confidence that we will only have to go through this process once. The layoffs reflect the dire state of the crypto market, whose combined value has declined by more than two-thirds compared to last year’s peak. That OpenSea, the
, was cutting jobs offers a stark realization that no company is safe from the downdraft of so-called crypto winter.
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