It's just me or anyone else also think, this guy only promoting his exchanges since he mention his exchanges first?
Weird how he include Coinbase wouldn't insolvent while they're already lay off 18% of their workers and suffer $430 million losses, it's possible if Coinbase would bankrupt in the near future if Bitcoin price continue to drop and they don't have good management to take care or continue their business.
Honestly I don't understand why many people are choose other exchanges (low volume, small, new etc) rather than the old and reputable one until now? Talking about the fees, it doesn't have so much different. Usually it's just a matter of top exchanges didn't list all shitcoins, AFAIK Hotbit and MEXC are full of shitcoins that the reason why many people to use this exchanges. But for other middle-top tier exchanges, I don't see any reason why other still use it.
I think in the end, the popular and big exchanges we've seen right now would bankrupt in the future, similar like Mt.Gox.
| | | . Name . | | | ..... News link..... | | | ............................................ Notes ........................ | | |
| | | Gemini | | | ...10% of the workforce | | | .......we have made the difficult but necessary decision to part ways with approximately 10% of our workforce | | |
| | | Coinbase | | | ...Coinbase Lay Off 18% of Workers | | | .......Coinbase reported a $430 million net loss in the first quarter, or $1.98 per share, Revenue was down as trading volumes fell, and active monthly users declined 19% from the fourth quarter. | | |
| | | blockfi | | | ...20% of it's workforce | | | .......dramatic shift in macroeconomic conditions” and BlockFi’s push to become profitable. | | |
| | | Crypto.com | | | ...5% of its work force | | | .......That means making difficult and necessary decisions to ensure continued and sustainable growth for the long term by making targeted reductions of approximately 260 or 5% of our corporate workforce. | | |
Myself I don't see these developments as worrying as other make them out to be. Outside of Crypto, usually when a company announces layoffs to save money the stock will go up. Crypto, and companies, go through cycles, so it make sense to trim back expenses as the market conditions dictate.
I would be more worried about companies pretending everything is fine rather than taking measures to trim expenses when the market is in a downturn. I am sure many of those lost jobs where in areas of research and new services rather than the bread and butter positions that keep the company running. It only make sense now that we are entering a downturn, which means less customers, less trading, hence less fees for revenue, that a prudent company starts looking for ways to trim its expenses. It not like its a secret that Crypto is entering a bear market, so there are bound to be losses and pullbacks everywhere.