Home Dice Hiring of a Coinbase technologist enters a deeper freeze

Hiring of a Coinbase technologist enters a deeper freeze

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Two weeks ago, crypto exchange Coinbase indicated that it would slow down hiring and “reassess” its staffing needs. Now the company is taking even more drastic measures, including a hiring freeze and the cancellation of some accepted job offers.

“The extended hiring pause will include replacements, except for roles that are necessary to meet the high standards we have set for safety and compliance, or to support other mission-critical work,” wrote LJ Brock, the company’s director of human resources, in a company statement. blog posting.

Regarding Coinbase’s cancellation of accepted offers, Brock added, “It’s not a decision we take lightly, but it’s necessary to ensure we only grow in the areas that matter most. priority.”

Like some other companies in the midst of layoffs and/or a hiring freeze, Coinbase is also offering support for those affected. A “talent centre” will offer “placement support, CV review, interview coaching and access to our strong industry relationships”.

The ever-volatile cryptocurrency market has undergone a seismic shift over the past few months. Some long-standing cryptocurrencies, such as Bitcoin, have lost significant value; others, like Luna or the “stablecoin” Terra, have imploded entirely. While many pundits and analysts remain optimistic about the long-term future of crypto, the market lost at least $1 trillion in paper value at the end of May.

However, many technologists continue to believe in the technologies that drive the cryptocurrency market. Last year, in response to a Stack Overflow survey, some 38.56% of developers said blockchain was “very trendy,” while 61.44% said it was a game changer. Among those who have not developed with blockchain, some 61.85% of them want to, while 38.15% said they have no interest. In addition to cryptocurrency, many technologists believe that blockchain technology could prove essential for “smart contracts”, cybersecurity and other vital areas.