Binance lays off over 1k Employees
I haven’t paid any serious attention to crypto-type markets in a while but historically BTC/USDT was a pretty good number to look at if you could only look at one and it’s (glances)…whoa back above 30k? That’s not like peak tulip or even close but historically like, high-ish I think. I don’t particularly feel like reading the entrails of the crypto chicken at the moment so I’m going to assume that the crypto market (including the perpetual futures and stuff where Binance makes the big bucks) isn’t lying in ruins. I’m sure someone will let me know if that’s way off.<p>8 thousand people is not a lot for a company doing trillions of dollars of transactions in dozens of countries most which have at least some regulation. That would be a lot if they were all engineers and quants, but even there, an electronic stock market is a tricky little devil to build and operate.<p>So is this a bad outlook for crypto, a serious setback in the various regulatory battles, or just another brick in the wall of what is increasing looking like Don’t Poach Gate 2.0? (Sorry Bond Villains, the kids were going to hear about that eventually.)