Since April, the crypto sector has shed an estimated 27,000 jobs, according to a CoinDesk. Ethereum software firm ConsenSys will lay off up to 100 employees.
According to a source with knowledge of the situation, ConsenSys, the company responsible for creating the cryptocurrency wallet MetaMask, intends to lay off 100 or more employees. Nearly 900 people work in ConsenSys’ headquarters in New York City. According to the source, the precise number of the anticipated layoffs is still up in the air.
This comes on the heels of Tuesday’s announcement by U.S. exchange Coinbase that it will be laying off 20% of its workforce, or around 950 people. Since April last year, the whole crypto sector has witnessed approximately 27,000 jobs lost.