Despite the fact that in 2022 many large assets did not lose much of their value in percentage terms (Bitcoin, for example, lost 75% of its past ath), in some aspects this bearish cycle has set its own anti-records.
For example, this year, a record number of employees involved in various crypto companies were laid off. More than 10,000 employees lost their jobs in a year:
https://i.imgur.com/B15DezT.jpgThe influx of money into the crypto industry has become lower than in the last bearish cycle of 2018-2019:
https://i.imgur.com/x62mf8f.jpgThe capitulation of miners is getting faster:
https://i.imgur.com/NBEIM5d.jpgIn total, the crypto industry lost about 26,062 jobs as of Nov. 30, 2022, according to CoinDesk.
The winter in the crypto industry will eventually pass, but not all of them will succeed. In fact, not only the encrypted world, but also the layoffs in the real world are terrible. The economic situation is declining, and the economic crisis is not just Bitcoin and his little brothers.
As of November 17, 2022, at least 132 technology companies with headquarters or offices located in the San Francisco Bay Area have released 141 layoff information this year, totaling about 43,000 layoffs.
