ShapeShift Reveals Massive Layoffs: Blames Crypto Winter & Lack of Focus

ShapeShift is the latest crypto company to reveal big layoffs thanks to the bear market. Revealed via a Medium post, ShapeShift Founder and CEO Erik Voorhees revealed that 37 employees had been let go – an entire third of the current team.

“The latest crypto winter is upon us, and today ShapeShift felt the bitter frost,” begins the post. He goes on to name crypto as a “harsh mistress,” one that grows “at rates unseen almost anywhere else in the business world.” In fact, ShapeShift alone had grown 3,000% in 2017.

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