Monday, September 15, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Argentine Crypto Exchange Lemon Cash Sacks 100 Staff As Bear Market Bites

by Christian Encila
November 26, 2022
in Cryptocurrency
Reading Time: 2 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Lemon Cash, a crypto exchange with operations in Argentina and Brazil, has rendered 38% of its workforce jobless, on Friday.

One hundred employees were laid off as a result of the adverse industry environment and the lack of a clear turnaround outlook in the venture capital sector, as cited by Lemon Cash.

The Latin American crypto landscape continues to be buffeted by adverse market conditions, forcing crypto firms such as Lemon Cash to give the pink slip to a substantial number of employees.

The CEO of Lemon Cash, Marcelo Cavazzoli, announced the layoff in a Medium article titled “Open Letter to the Community.”

In the letter, Cavazzoli expressed his sadness and mentioned the “challenging international context” as the reason for the job loss.

Crypto Exchange Terminations Come Following FTX Collapse

The decision by Lemon to sack this number of employees follows the recent collapse of crypto exchange FTX, which shook the markets.

Major cryptocurrencies, particularly Bitcoin, experienced the brunt of the FTX crash, which propagated worries about the crypto’s overall integrity.

According to Cavazzoli, the startup investment sector is experiencing a “recessionary era,” and Lemon is aware that this trend will persist for some time.

Image: Criptotendencias

“There is an international context of which we are a part and to which we have to adapt,” the CEO pointed out.

It is important to note that Latin America is not the only region witnessing a decline in the crypto market; this predicament is a worldwide issue that has persisted throughout the entire year – even before the FTX disaster.

It appears that Lemon Cash’s layoffs are by far the largest in the Latin American region. This is determined by comparing the number of employees it decided to let go to the number of positions that other crypto companies in the region decided to fill.

Lemon Cash Expansion Plans On Hold

As a result, Lemon is compelled to shelve expansion plans for Colombia, Ecuador, Chile, Uruguay, and Peru by the end of 2022.

Meanwhile, Lemon Cash is not the first cryptocurrency exchange to reduce its workforce.

Another Argentine crypto exchange, Buenbit, cut nearly half of its personnel, rendering 80 employees.

Coinbase reportedly slashed approximately a thousand employees in May of this year. Last month, 40% of the staff of the Indian Exchange WazirX were given the door.

According to a November 14 analysis by CoinGecko, crypto layoffs account for only 4% of all tech layoffs. Tech titans such as Meta and Twitter have eliminated additional positions.

Crypto total market cap at $797 billion on the weekend chart | Featured image from Imgflip, Chart: TradingView.com



Source link

Tags: ArgentineBearbitesCashCryptoexchangeLemonMarketsacksstaff
Previous Post

Taiwan votes on lower voting age, mayors, city councils

Next Post

Sea Limited Stock: Investable Again (NYSE:SE)

Related Posts

London Stock Exchange Debuts First Blockchain-Powered Fundraising

London Stock Exchange Debuts First Blockchain-Powered Fundraising

by Jared Kirui
September 15, 2025
0

The London Inventory Alternate (LSEG) has accomplished its first blockchain-powered transaction, marking the launch of its new digital markets platform....

Hot and Cold Crypto Wallet: Which One is Safer and Smarter in 2025 | by Swapan Das | The Capital

Hot and Cold Crypto Wallet: Which One is Safer and Smarter in 2025 | by Swapan Das | The Capital

by Swapan Das
September 10, 2025
0

Press enter or click on to view picture in full measurementpicture edit by Creator utilizing CanvaThose that are investing or...

Germany’s Biggest TV Channel Features Ripple, XRP On Air

Germany’s Biggest TV Channel Features Ripple, XRP On Air

by Christian Encila
September 5, 2025
0

Ripple and its native token XRP have been given uncommon mainstream publicity on German finance channel Der Aktionar TV. In...

Incremental Learning in AI 2025: Overcoming Catastrophic Forgetting & Boosting Efficiency | BitX Case Study

Incremental Learning in AI 2025: Overcoming Catastrophic Forgetting & Boosting Efficiency | BitX Case Study

by Euro Times
September 4, 2025
0

Navigating the Shift from Static Models to Dynamic, Lifelong Learning Systems 1. Why AI Needs to Evolve: Beyond Static Intelligence...

12 Months of Crypto in 2 Columns: 5-Digit Winners and Double-Digit Losers

12 Months of Crypto in 2 Columns: 5-Digit Winners and Double-Digit Losers

by Jamie Redman
August 31, 2025
0

Crypto’s final 12 months delivered excessive dispersion, with a cluster of tokens posting four- and five-digit positive factors whereas a...

BitX Mining & BitX V2 Accelerator: Driving AI-Powered Web3.0 Growth in Turkey and Iran

BitX Mining & BitX V2 Accelerator: Driving AI-Powered Web3.0 Growth in Turkey and Iran

by Euro Times
September 1, 2025
0

BitX Mining is emerging as a global innovator in AI-driven Bitcoin mining technology, introducing solutions that redefine efficiency, accessibility, and...

Next Post
Sea Limited Stock: Investable Again (NYSE:SE)

Sea Limited Stock: Investable Again (NYSE:SE)

Section 8 Investing and Which Cash Flow Markets Make Sense

Section 8 Investing and Which Cash Flow Markets Make Sense

How to install a smart light switch or dimmer

How to install a smart light switch or dimmer

September 15, 2025
Wall Street Lunch: Trump Proposes Shift To Semiannual Earnings (undefined:TSLA)

Wall Street Lunch: Trump Proposes Shift To Semiannual Earnings (undefined:TSLA)

September 15, 2025
Rubio Is Skeptical of Gaza Deal During Jerusalem Visit

Rubio Is Skeptical of Gaza Deal During Jerusalem Visit

September 15, 2025
The Scouring of the American Middle Class

The Scouring of the American Middle Class

September 15, 2025
Naidu offers farmers incentive to reduce use of urea

Naidu offers farmers incentive to reduce use of urea

September 15, 2025
London Stock Exchange Debuts First Blockchain-Powered Fundraising

London Stock Exchange Debuts First Blockchain-Powered Fundraising

September 15, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

How to install a smart light switch or dimmer

Wall Street Lunch: Trump Proposes Shift To Semiannual Earnings (undefined:TSLA)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In