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Stock impact report

Crypto CEOs Fearing Worst Is Yet to Come Are Cutting More Jobs [BNN Bloomberg (Canada)]

BlackRock, Inc. (BLK) 
Last blackrock, inc. earnings: 4/16 06:02 am Check Earnings Report
US:NYSE Investor Relations: ir.blackrock.com
Company Research Source: BNN Bloomberg
Cryptocurrency exchanges Bybit and Swyftx over the past two days said they're laying off 30% and 35% of their staff, respectively. The announcements came less than a week after bigger rival Kraken unveiled a similar workforce culling. With the implosion of Sam Bankman Fried's FTX reverberating through the industry, Bybit Chief Executive Officer Ben Zhou and his counterpart at Swyftx, Alex Harper, offered frank assessments of the challenges facing the sector. In a message to employees seen by Bloomberg News, Harper cited the potential for more “black swan-type events” and said trading volumes could suffer “a potentially sharp fall” in the first half of 2023. Zhou flagged the possibility “that we are entering into an even colder winter than we had anticipated from both industry and market perspectives.” Exchanges are at the epicenter of the industry's crisis because trading volumes have fallen sharply as a $2 trillion drop in cryptoassets' market value drove retail traders away. Show less Read more
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