Crypto Giant Coinbase Shutters Chicago Division After Non-Stop Growth2

Coinbase has been on a tear for the past 12 months. Even amid a grueling downturn in Bitcoin markets, the firm, valued at a hefty $8 billion, has continued to forge ahead, keeping its nose to the proverbial grindstone. But, at last, the prominent startup has stumbled, albeit rather uncharacteristically.

Save for a 10 to 15 customer service employee purge in late-2018, caused a result of logistical concerns rather than financial mismanagement, Coinbase has largely been safe from the recent crypto layoff spree, which saw ShapeShift, Bitmain, Huobi, and countless others drop staffers en-masse — until now anyway.

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