It has become abundantly apparent that the Bitcoin price crash-induced crypto winter hasn’t managed to seduce bears. The crash in the broader cryptocurrency market, which sent investors running en-masse, has resulted in a number of layoffs at this (not so) budding sector’s most preeminent firms. Bitmain, Huobi, and even ShapeShift are among the notable startups that have purged employees to bolster their bottom line.
But the bloodshed is far from over. An Israeli blockchain company is the most recent domino to have fallen in the Rube Goldberg machine-esque cryptocurrency space.
Blockchain Startup Purges Most Employees
Per a report from local outlet Globes, First Digital Assets Group (FDA), a blockchain application group, will be dropping most employees from its payroll. Citing sources familiar with FDA’s operations, Globes wrote that the company will be “rethinking its policy,” leading to a company-wide overhaul.
As a part of this refresh, FDA will purportedly be totally purging its industry research division, One…