Crypto Firms Cut Back on Hiring During Slump

Cryptocurrency firms have slammed the brakes on their spending spree in response to the continuing crypto price slump.

In the past few weeks, Coinbase Global Inc., the largest American crypto exchange, rescinded offers to employees who accepted jobs and said it would slow its hiring pace. Another crypto exchange, Gemini Trust Co., cut 10% of its staff, citing the effects of the market downturn.