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​ShapeShift releases one-third of its team due to declines in the digital currency market

2019-01-09 10:58 am | Resource: News Section | No Views : 186

​ShapeShift releases one-third of its team due to declines in the digital currency market The chief executive of Switzerland-based ShapeShift Digital Currency Exchange, Erik Voorhees, said the company had laid off a third of its team.
He said that ShapeShift had laid off 37 of its employees, which meant reducing its team by one-third.
"The decision came as the market suffered from a long period of decline," he said, adding that the decision was the company's biggest and worst financial decision.
ShapeShift has hit four different aspects, including legal issues, customer problems, financial issues, and structural issues, he said, adding that these factors have largely helped lay off part of its employees.
Voorhees apologized to those affected by the big movement, but stressed the advantages of digital currencies, saying:
"Among its many advantages, encrypted assets enable people to easily store value and transfer value directly to someone else, anywhere on the ground. This power is superb and unprecedented."
Last September, the Wall Street Journal issued the results of an investigation alleging that $ 88.6 million fraudulently obtained was passed through 46 digital currency exchange exchanges with $ 9 million transferred through ShapeShift.
Later, Furehis refuted the implied charges, noting that the exchange team worked with reporters from the Wall Street Journal for five months, but under false pretexts, where the information provided by the stock exchange was misrepresented or deleted.
In late December, press reports showed that ConsenSys, which is interested in developing Ethereum's Blockchain technology, could lay off 50 to 60 per cent of its 1,200-strong workforce.
But the founder of ConsenSys, Joseph Lobin, later said in a tweet posted on Twitter, that these reports do not enjoy good health, adding that the company is still rebalancing the priorities and activities that began almost nine months ago, adding that the company rents internal projects, which of Which will remain central to its future major business.

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