Summer is here and it is melting the market. A massive selloff on Monday shook up a number of DeFi projects, which up until today have fallen by 55% since April.
Over the weekend, cryptocurrency exchange Crypto.comthat it was laying off 260, or 5%, of its corporate workforce, citing difficult market conditions. Just last month, the company also stated that it was significantly cutting back rewards for its popular crypto-backed debit card. Annual cash-back APYs for spending have reportedly beenposted
by founders Monday morning, BlockFi also announced that it was laying off 20% of its 850-strong staff. The firm cites the need to achieve profitability goals for the long haul in making the decision. Similarly, cryptocurrency exchange Coinbase has decided to extend a hiring freeze and rescinded job offers to hundreds of new hires. Though Brian Armstrong, its CEO, has
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