Blockchain.com Sunsets savo turto valdymo padalinį

Blockchain.com has decided to sunset its 11-month-old asset management arm, another victim of kriptovaliuta.

Pagal padavimas, Blockchain.com Asset Management (BCAM) has voluntarily applied to strike its name off the U.K. companies’ register.  

London-based BCAM was launched 11 months ago in partnership with Altis Partners. The firm decided to shut down its operation even before filing annual accounts.

A spokesperson from the company told "Bloomberg", “Blockchain.com Asset Management launched in April 2022, shortly before macroeconomic conditions deteriorated rapidly. With crypto winter now approaching the one-year mark, we made the business decision to pause operating this institutional product.”

BCAM offered “algorithm-based risk management exposure” to Bitcoin ir decentralizuotas finansavimas (defi) Produktai. 

In April 2022, Blockchain.com had ambicijos to take the firm public by the end of 2022 and was in talks with several banks for the same.

But while trying to raise funds in October 2022, venture capitalist only vertinamas the firm at $3 to $4 billion. The new valuation was nearly one-fifth of the $ 14 mlrd when it raised funds in March 2022.

Bear Market Cost-Cutting

In January, Blockchain.com atleisti 28% of its staff after growing its headcount by five times in 2021. With job cuts and several other cost-cutting methods, it aims to return to profitability in 2023.

According to Bloomberg, another crypto exchange, Crypto.com, has laid off nearly 2,500 staff since 2022. The top four companies with the highest layoffs in the crypto industry are exchanges.

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