Coinbase Fires 15 Employees - Result of Crypto Bear Markets

It is believed that Coinbase has recently sacked about 15 employees. This was revealed by Dan Roberts who is a renowned Yahoo Journalist. This would come as a shock to a lot of persons since Coinbase is popularly known as the very first cryptocurrency platform in the world. This recent sacking could mean a lot of things. One speculation is that Coinbase is trying to reduce its operational costs and the very volatile markets are starting to tell on the business.

According to the various sources which are linked to Yahoo, these fifteen employees which were sacked from Coinbase come from the different departments which include customer service, antifraud departments and so much more. It is also believed that most of the employees who were fired are employees who have only been in the company for five years. These employees were part of a decentralized team whose focus was supposed to be on customer support. This new team was supposed to be a response to the ever growing need of the Coinbase organization.

This new team was supposed to be a response to the ever growing need of the Coinbase organization.

However, it is also believed that all remote staff members who got the cut were offered the option of no longer working remotely but going to the offices this time as permanent workers. It should be noted that just recently, there has been news circulating that Coinbase is seeking to open a new branch in Ireland. This came out of a constant fear of the recent consequences of the British exit from the EU. It is also a result of the desire for Coinbase to diversify into the European market.

While many observers would see this move to fire the employees as okay from a logical standpoint, inside the company, the view has not been taken down easily. It is believed that many employees are not happy with the way the matter has been handled and they feel much slighted in the manner in which the senior staff has behaved. The people at the top of the company, however, have been silent concerning this report and have only chosen to confirm that the exit of this employees really did occur.

It is believed that this move by Coinbase is based on an attempt to keep its index fund at the same level as other cryptocurrencies such as bitcoin, Ethereum and so much more. They plan to do this without too much risk attached to their decision and plan.

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