Blockchain.com will lay off 150 employees, or 25 percent of its workforce, the company has announced.
A spokesperson informed CoinDesk via email that the reduction will mimic the company’s January 2022 workforce.
The exchange recently revealed that the financing of troubled hedge funds, Three Arrows Capital, had left them with a deficit of 270 million dollars. According to the company, 26 percent of the affected employees are in the United States, and 44 percent are in Argentina.
One of the oldest companies in the cryptocurrency sector, Blockchain.com, is also reducing its institutional lending business, halting all mergers and acquisitions, along with halting efforts to increase gaming.
Demand was most active in Europe, the US and Africa, the company said. However, the company said that rather than gaming, it was brokerage that was driving demand.
In other news, the Blockchain developer community has expressed surprise after Minecraft stated that it would not accept non-fungible tokens (NFT). An NFT is a Blockchain-based, unique, non-editable digital currency that is widely purchased using cryptocurrencies, such as Bitcoin. Any kind of digital resource, such as an MP3 or GIF, can be linked to an NFT.
According to the developer, Blockchain technology cannot be included in Minecraft’s client or server software. Third-party NFTs, according to Minecraft, may not be reliable, and may end up costing players money. Blockchain technology will not be used on in-game content, such as the environment, skins and personal items, to produce a valuable digital asset, the developer has said.
Crypto prices
The price of Bitcoin (BTC) fell by 3.86 percent in the last 24 hours, and it was trading at $22,767.93 at 5:15 p.m. According to data from Coinmarketcap.com, dominance in the crypto market is currently 42.50 percent, down 0.28 percent in the last 24 hours.
Ethereum (ETH) was trading at $1,491.62, down 6.17 percent, while Binance Coin (BNB) was down 4.81 percent in the last 24 hours. It traded at $255.86. Solana (SOL) was down 8.73 percent to $40.93, while Cardano (ADA) was down 8.77 percent to $0.4816.
Meme Coins
Dogecoin was trading at $0.06816 at 5:15 p.m., down 6.53 percent on Coinmarketcap.com. Its rival, Shiba Inu, traded in the green at $0.00001171. Samoyedcoin was down 11.04 percent, trading at $0.01023, while Dogelon Mars was down 12.72 percent, trading at $0.0000003436.
Overall scenario
According to Coinmarketcap.com, the global crypto market capitalization was $1.02 billion, a decrease of 4.39 percent in the last 24 hours, while the total crypto market volume was $89.26 billion, registering a decrease of 15 .19 percent.
