Crypto Exchange Kraken Lays off 1,100 Employees

Crypto exchange Kraken is laying off 30% of its global staff. Kraken will let go of around 1,100 people due to a downturn in the crypto market downturn.

The crypto market has sunk this year, with bitcoin (BTC) losing some 63% of its value since the end of 2021.

The total crypto market cap is down more than two-thirds in the past 12 months.

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