RATE Group | Hedge funds to start-ups, industry feels crypto pain
53344
post-template-default,single,single-post,postid-53344,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Hedge funds to start-ups, industry feels crypto pain

19 Dec Hedge funds to start-ups, industry feels crypto pain

Posted at 00:23h in Cryptocurrency News by

[ad_1]

What a difference one year can make.

This time last year, bitcoin was cruising to $20,000, two trading exchanges launched bitcoin futures contracts, and a flurry of professionals were leaving big tech and traditional financial firms for the promise of new opportunities in the fast-growing cryptocurrency industry.

Fast forward 12 months, and bitcoin is trading around $3,300 while other cryptocurrencies have reversed course, weighing heavily on investor confidence and the industry.

Earlier this month, blockchain services company Consensus said it’s cutting 13 percent of its staff.

Steemit, a blockchain start-up, recently announced it’s laying off 70 percent of its workforce.

…

[ad_2]

Source link

Tags:
, , , , , ,