Members of the crypto community have responded to the recent layoffs in a variety of ways, with some encouraging employers to hire laid-off workers.
Members of cryptocurrency enthusiasts and crypto investors have written a variety of posts and reactions on the web as more crypto-related companies lay off workers to cope with the effects of the bear market, from words of encouragement to attempts to hire recently laid-off experts.
The layoffs in the state of instability
Two well-known cryptocurrency trading platforms declared closures over the past few weeks. This is due to how the winter of cryptocurrencies is still in the crisis state.
Bybit has cut thirty percent of the manpower in its company, which tags the 2nd layoff the trader has carried out in 2022. As it navigates, the storm brought on by the impact of ft. Australian trading platform Swyftx has likewise reduced about forty percent of its workforce.
After Bybit was fired, a tweet from one of crypto users was made, who stated to have been an employee at the Bybit company and worked under the leadership of its Chief executive officer B. Zhou, who stated that the conversation had assured the company’s workers that the firing was reasonable.
However, despite his trust in Bybit, another crypto user admitted that he is wary of engaging in larger transactions with larger sums of money.
A major accountant’s audit was another suggestion made by Twitter users to regain trust. One member of the community responded to the news of Swyftx’s shutdowns by writing that it was really taking place and that there might be additional bankruptcy-related events in the future. When the layoffs were announced, Swyftx clients boosted the trading service.
The good news
As for the clients, beneficial things might come if one can endure the storm. Layoffs freed up crypto-savvy talent, so employers seized the chance to post that they were looking for employees and gathering the resumes of the latest dismissal.
Some clients broke into the offices of the closed cryptocurrency exchange AAX. Recent local news reports claim that customers who had their withdrawals frozen by the exchange raided his AAX office in Lagos, Nigeria.