‘Crypto Winter’ Is Coming: Coinbase Lays Off 18% of Workforce, Warns of Recession
Crypto trading platform Coinbase will cut 18 percent of its staff with CEO Brian Armstrong warning of a worldwide recession and the possibility of a “crypto winter.”
Crypto trading platform Coinbase will cut 18 percent of its staff with CEO Brian Armstrong warning of a worldwide recession and the possibility of a “crypto winter.”
The CEO of cryptocurrency exchange Coinbase, Brian Armstrong, has accused the Securities and Exchange Commission (SEC) of unfairly targeting his platform and selective rule enforcement. Armstrong posted to social media: “They are refusing to offer any opinion in writing to the industry on what should be allowed and why, and instead are engaging in intimidation tactics behind closed doors. If you don’t want this activity, then simply publish your position, in writing, and enforce it evenly across the industry.”
Coinbase CEO Brian Armstrong is sounding the alarm over a proposed regulation from the Department of the Treasury that would clamp down on the use of independent cryptocurrency wallets and potentially strengthen financial censorship.