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168隔壁小王
2023-01-11

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The crisis in the currency circle is fermenting: Coinbase, the largest digital currency exchange in the United States, will cut 20%

除了裁员，Coinbase CEO还宣布关停多个项目，称本该在去年市场开始调整时裁得更多。上周Genesis计划裁员30%并考虑破产申请；四季度遭客户大挤兑的Silvergate宣布裁员40%。

The crisis in the currency circle is fermenting: Coinbase, the largest digital currency exchange in the United States, will cut 20%

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Last week Genesis planned to cut 30% of its workforce and consider bankruptcy filing; Silvergate, which suffered a big run on customers in the fourth quarter, announced 40% layoffs. The bankruptcy of the cryptocurrency exchange FTX has made it worse for companies in the currency circle that are already facing difficulties due to falling currency prices. Even some well-known companies in the currency circle are taking actions to lay off employees or possibly go bankrupt to protect themselves.</p><p>On Tuesday, January 10th, Eastern Time, Brain Amstrong, CEO of Coinbase, the largest and first cryptocurrency exchange listed in the United States, announced through his official blog that he had made a difficult decision, which would reduce the operating expenses of this quarter compared with the previous quarter. About 25%, specific measures include laying off about 950 employees, and all laid-off employees will be notified on the same day.</p><p>This means that Coinbase will lay off about 20% of its employees, which is equivalent to one out of every five employees. Because public information shows that as of the end of September 2022, the company has a total of about 4,700 employees. This is another round of major layoffs at Coinbase in more than half a year. In June 2022, the company announced that it would lay off 18% of its employees, about 1,200 employees, and in November, about 60 positions would be abolished.</p><p>CEO Amstong mentioned in his blog on Tuesday that as part of the actions related to layoffs, Coinbase will shut down multiple projects with low probability of success, and the affected teams will be notified on Tuesday. Other projects will continue to operate as usual, but with fewer manpower than before.</p><p>Explaining why he decided to lay off employees, Amstong said that Coinbase is well-capitalized and the cryptocurrency industry is not at the end of the road. Unnamely, he mentioned FTX, which has entered the bankruptcy process, saying he believes that recent events, including the collapse of a large competitor and increasing regulatory clarity, will ultimately benefit Coinbase, and they validate Coinbase's long-term strategy. But these changes will take time to materialize, and Coinbase needs to ensure that it has appropriate operating efficiency in order to weather the downturn of the cryptocurrency market and seize possible opportunities.</p><p>Amstrong wrote that the cryptocurrency industry is difficult to predict, but the key is to make plans to ensure that you can successfully run your business when there are many possible outcomes in the future. In the past decade, Coinbase has used this process to weather many bear markets. This is the first time that the company has encountered a cryptocurrency industry cycle that coincides with the downturn of the entire economy. Obviously, the company needs to cut expenses and increase the odds of doing well in all situations. There is no choice but to lay off employees.</p><p>Amstrong pointed out that the reason why Coinbase has come to the point where it has to lay off employees is partly due to some factors beyond its control, but he also has some responsibilities as CEO. \"Last year, we also cut people when the market began to adjust. Looking back now, we could have cut more at that time.\"</p><p>Coinbase expects that actions related to business restructuring such as layoffs will incur costs of US $149 million to US $163 million in the first quarter of 2023, and the restructuring will be basically completed before the end of the second quarter. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the full year of 2023 is expected to be a loss of approximately US $500 million, which is within the company's performance guidance range for 2022.</p><p>Owen Lau, an analyst at Oppenheimer, commented that the new round of layoffs at Coinbase is due to the fact that the trading volume of cryptocurrencies is still low, especially after the bankruptcy of FTX. Analysts at Keefe Bruyette & Woods commented that the new action will help mitigate the challenging environmental impact on Coinbase, but may not allow the company to turn a profit.</p><p>On the day Amstong announced the action, Coinbase's stock price quickly turned higher on Tuesday despite an open low, rising by more than 3% intraday, and still fell by more than 80% in the past year.</p><p>At present, the bear market of cryptocurrencies has entered its second year, and a series of thunderstorms in the industry, such as the bankruptcy of FTX, have also hurt the prospects of the entire industry. Before Coinbase announced layoffs, well-known currency companies had taken similar actions.</p><p>Wall Street News mentioned last week that dragged down by the collapse of FTX, encryption lender Genesis Trading will lay off 60 people, accounting for 30% of the total employees, and will file for bankruptcy protection. The FTX incident triggered customer concerns about Silvergate Capital, a bank serving the currency circle (<a href=\"https://laohu8.com/S/SI\">Silvergate Capital</a>), the company's cryptocurrency-related deposits dropped sharply by 68% in the fourth quarter of 2022. When it disclosed its results last week, it announced the layoff of about 200 people and about 40% of its employees.</p><p></body></html></p>","source":"awtmt_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The crisis in the currency circle is fermenting: Coinbase, the largest digital currency exchange in the United States, will cut 20%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe crisis in the currency circle is fermenting: Coinbase, the largest digital currency exchange in the United States, will cut 20%\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">李丹</strong><span class=\"h-time small\">2023-01-11 07:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>In addition to layoffs, Coinbase CEO also announced the closure of multiple projects, saying that more layoffs should have been laid off when the market began to adjust last year. Last week Genesis planned to cut 30% of its workforce and consider bankruptcy filing; Silvergate, which suffered a big run on customers in the fourth quarter, announced 40% layoffs. The bankruptcy of the cryptocurrency exchange FTX has made it worse for companies in the currency circle that are already facing difficulties due to falling currency prices. Even some well-known companies in the currency circle are taking actions to lay off employees or possibly go bankrupt to protect themselves.</p><p>On Tuesday, January 10th, Eastern Time, Brain Amstrong, CEO of Coinbase, the largest and first cryptocurrency exchange listed in the United States, announced through his official blog that he had made a difficult decision, which would reduce the operating expenses of this quarter compared with the previous quarter. About 25%, specific measures include laying off about 950 employees, and all laid-off employees will be notified on the same day.</p><p>This means that Coinbase will lay off about 20% of its employees, which is equivalent to one out of every five employees. Because public information shows that as of the end of September 2022, the company has a total of about 4,700 employees. This is another round of major layoffs at Coinbase in more than half a year. In June 2022, the company announced that it would lay off 18% of its employees, about 1,200 employees, and in November, about 60 positions would be abolished.</p><p>CEO Amstong mentioned in his blog on Tuesday that as part of the actions related to layoffs, Coinbase will shut down multiple projects with low probability of success, and the affected teams will be notified on Tuesday. Other projects will continue to operate as usual, but with fewer manpower than before.</p><p>Explaining why he decided to lay off employees, Amstong said that Coinbase is well-capitalized and the cryptocurrency industry is not at the end of the road. Unnamely, he mentioned FTX, which has entered the bankruptcy process, saying he believes that recent events, including the collapse of a large competitor and increasing regulatory clarity, will ultimately benefit Coinbase, and they validate Coinbase's long-term strategy. But these changes will take time to materialize, and Coinbase needs to ensure that it has appropriate operating efficiency in order to weather the downturn of the cryptocurrency market and seize possible opportunities.</p><p>Amstrong wrote that the cryptocurrency industry is difficult to predict, but the key is to make plans to ensure that you can successfully run your business when there are many possible outcomes in the future. In the past decade, Coinbase has used this process to weather many bear markets. This is the first time that the company has encountered a cryptocurrency industry cycle that coincides with the downturn of the entire economy. Obviously, the company needs to cut expenses and increase the odds of doing well in all situations. There is no choice but to lay off employees.</p><p>Amstrong pointed out that the reason why Coinbase has come to the point where it has to lay off employees is partly due to some factors beyond its control, but he also has some responsibilities as CEO. \"Last year, we also cut people when the market began to adjust. Looking back now, we could have cut more at that time.\"</p><p>Coinbase expects that actions related to business restructuring such as layoffs will incur costs of US $149 million to US $163 million in the first quarter of 2023, and the restructuring will be basically completed before the end of the second quarter. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the full year of 2023 is expected to be a loss of approximately US $500 million, which is within the company's performance guidance range for 2022.</p><p>Owen Lau, an analyst at Oppenheimer, commented that the new round of layoffs at Coinbase is due to the fact that the trading volume of cryptocurrencies is still low, especially after the bankruptcy of FTX. Analysts at Keefe Bruyette & Woods commented that the new action will help mitigate the challenging environmental impact on Coinbase, but may not allow the company to turn a profit.</p><p>On the day Amstong announced the action, Coinbase's stock price quickly turned higher on Tuesday despite an open low, rising by more than 3% intraday, and still fell by more than 80% in the past year.</p><p>At present, the bear market of cryptocurrencies has entered its second year, and a series of thunderstorms in the industry, such as the bankruptcy of FTX, have also hurt the prospects of the entire industry. Before Coinbase announced layoffs, well-known currency companies had taken similar actions.</p><p>Wall Street News mentioned last week that dragged down by the collapse of FTX, encryption lender Genesis Trading will lay off 60 people, accounting for 30% of the total employees, and will file for bankruptcy protection. The FTX incident triggered customer concerns about Silvergate Capital, a bank serving the currency circle (<a href=\"https://laohu8.com/S/SI\">Silvergate Capital</a>), the company's cryptocurrency-related deposits dropped sharply by 68% in the fourth quarter of 2022. When it disclosed its results last week, it announced the layoff of about 200 people and about 40% of its employees.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://api.jianyuweb.com/apiv1/content/articles/3679529?extract=1\">李丹</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/709c8c52047b7d3426eff9782845dade","relate_stocks":{"COIN":"Coinbase Global, Inc.","BK4539":"次新股","BK4112":"金融交易所和数据","BK4535":"淡马锡持仓","BK4554":"元宇宙及AR概念","BK4551":"寇图资本持仓"},"source_url":"https://api.jianyuweb.com/apiv1/content/articles/3679529?extract=1","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2302097321","content_text":"除了裁员，Coinbase CEO还宣布关停多个项目，称本该在去年市场开始调整时裁得更多。上周Genesis计划裁员30%并考虑破产申请；四季度遭客户大挤兑的Silvergate宣布裁员40%。加密货币交易所FTX的破产让本已因币价下跌面临困境的币圈公司雪上加霜，即使是一些币圈鼎鼎大名的企业，也在采取或是裁员或是可能破产的行动自保。美东时间1月10日周二，美国最大、也是首家在美上市加密货币交易所Coinbase的CEO Brain Amstrong通过官方博客宣布，做出艰难的决定，将让本季度的运营费用环比前一季减少约25%，具体举措包括裁员约 950人，所有被裁员工当天就会得到通知。这意味着，Coinbase将裁员约20%，相当于每五名员工就有一人被裁。因为公开信息显示，截至2022年9月末，该公司共有员工约4700人。这是Coinbase半年多来又一轮大裁员，2022年6月，该司宣布将裁员18%、约1200人，11月又裁撤约60个岗位。CEO Amstong在本周二的博客中提到，作为裁员相关的部分行动，Coinbase将关停多个取得成功可能性较低的项目，受影响的团队将周二当天得到通知。其他的项目将继续如常运营，不过人手会比以前少。Amstong解释为何决定裁员时说，Coinbase资本充裕，加密货币行业并非穷途末路。他不具名地提到了进入破产流程的FTX，称他相信，包括一家大型竞争对手倒闭和监管越来越清晰在内，最近的事件最终将让Coinbase受益匪浅，它们验证了Coinbase的长期战略。但这些变化需要时间实现，Coinbase需要确保有适当的经营效率，以便安然渡过加密货币市场的下滑期，并抓住可能出现的机遇。Amstrong写道，加密货币行业是难以预测的，但关键是制定计划，确保可以在未来有多种可能的结果时都能成功经营企业。过去十年，Coinbase用这种流程渡过了多次熊市，这次是公司第一次碰上加密货币的行业周期正逢整个经济的下滑。显然公司需要削减费用，增加在各种情形下都能经营良好的几率，除了裁员别无办法。Amstrong指出，Coinbase之所以走到如今这个不得不裁员的地步，部分源于一些无法控制的因素，但他作为CEO也要负一些责任。“去年我们也在市场开始调整时裁撤了人手，现在回过头看，我们本可以当时裁得更多。”Coinbase预计，裁员等业务重组相关的行动将在2023年第一季度产生1.49亿到1.63亿美元的费用，重组将在二季度末以前基本完成。2023年全年的调整后息税折旧摊销前利润（EBITDA）料将约为亏损5亿美元，处于2022年该司的业绩指引范围。机构Oppenheimer的分析师Owen Lau评论称，Coinbase的新一轮裁员是源于加密货币的交易量仍然很低，特别是FTX破产后。Keefe Bruyette & Woods的分析师评论称，新行动将有助于缓和Coinbase所受到的有挑战的环境影响，但可能不会让该司扭亏为盈。Amstong宣布行动当天，周二Coinbase股价虽然低开但很快转涨，盘中涨超3%，最近一年仍累计跌超80%。目前加密货币的熊市进入第二年，FTX破产等一系列业内企业爆雷冲击也伤害了整个行业的前景。在Coinbase宣布裁员之前，已有知名币圈公司采取类似行动。华尔街见闻上周提到，受FTX倒闭拖累，加密贷款机构Genesis Trading将裁员60人，占总员工数的30%，并将申请破产保护。FTX事件引发客户对为币圈服务的银行银门资本（Silvergate Capital）的挤兑，该司2022年四季度的加密货币相关存款剧减68%，上周披露业绩的同时宣布解雇约200人、约40%的员工。","news_type":1,"symbols_score_info":{"COIN":1}},"isVote":1,"tweetType":1,"viewCount":2372,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}