The head of ShapeShift, Eric Vorges, acknowledged that the company is unable to cope with all its obligations, the main reason being the deterioration of the situation in the blockchain industry
ShapeShift, the digital money exchange platform, announced a staff reduction, company head Eric Vorhis said that he had to fire about a third of the employees - 37 people. The main reason the entrepreneur called the general deterioration of the market situation.
“With a heavy heart today, we laid off 37 people,” Vorkhis wrote.
He called the crypto business a cruel thing and added that many companies associated with digital money suffered in 2018. According to the head of ShapeShift, the firm does not cope with all the obligations undertaken, and it also lost a significant part of the user base after the introduction of mandatory customer verification.
Mining giant Bitmain announced earlier that it has cut almost thousands of employees. Half of the company's staff will be laid off due to financial difficulties caused by the difficult situation in the digital money industry.
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