Matt Damon to Blame?: To some outside the world of cryptocurrency, might be best known for its commercial starring actor Matt Damon highlighting how “fortune favors the brave.”Ĭ spent a reported $100 million on its advertising campaign that saw the Damon ad get heavy rotation on television and used elsewhere. While June job cuts primarily centered on customer service and growth roles, the latest round of job cuts were said to be more critical roles like the company’s exchange, app and wallet. “The business is cutting down to bare minimum to survive the likely long bear market -internal initiatives are about trying to save every penny,” the source told Decrypt.
“We announced reductions in June, and since that time we have optimized our workforce to align with current external economic headwinds,” a spokesperson told Benzinga.Ī percent of employees or number could not be identified by Decrypt's sources, but was said to be “much bigger than the first one.”
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