Crypto layoffs:

People in the crypto community posted various responses to recent layoffs, from words of support to attempts to hire the people who lost their jobs.

As more crypto companies cut staff to deal with the effects of the bear market, people in the crypto community have posted a wide range of responses, from words of support to offers to hire the professionals recently laid off.

As the effects of the crypto winter continue to be felt, two major cryptocurrency exchanges announced layoffs over the weekend. Bybit has fired 30% of its employees. This is the second time in 2022 that the exchange has done this. On the other hand, the FTX fallout has caused the Australian deal Swyftx to lay off around 40% of its staff.

Bybit and Swyftx layoff:

In response to the Bybit layoffs, a Twitter user who claimed to have worked with Bybit CEO Ben Zhou said that the exchange was making the right choice and vouched for the organization’s members. On the other hand, another community member said they still trust Bybit but are scared to do bigger deals with more significant amounts of money. The Twitter user also suggested an extensive audit to win back trust.

When a community member heard about the Swyftx layoffs, they wrote that this was “bound to happen” and that there may be more bankruptcy events in the future. As the news of the layoff spread, a Swyftx user gave the platform some support. The user said good things would come if the exchanges could get through the storm.

As layoffs got rid of people with crypto experience, some companies took the chance to say they were hiring and try to get the resumes of the recently fired people to see if they would be a good fit.

While the cryptocurrency exchange AAX was still not working, some users attacked its office. Local news recently said that angry customers stormed an AAX office in Lagos, Nigeria, because the exchange had stopped letting them take out money.

Conclusion:

As the layoffs began, some took the opportunity to promote that they are hiring, trying to recruit the recently laid-off employees.