wp-plugin-hostgator domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114ol-scrapes domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/6\/14\/23167219\/coinbase-layoffs-crypto-winter-ceo-bitcoin-prices<\/a> Just four months ago, Coinbase reportedly spent $14 million on a Super Bowl ad<\/a> that consisted almost entirely of a colorful QR code bouncing around the screen, pointing viewers to a website where they could get $15 in Bitcoin just by signing up. Now, its fortunes have turned so sharply that it will lay off about 1,100 employees, or 18 percent of its workforce, according to a filing with the US Securities and Exchange Commission<\/a>. <\/p>\n In a post on the company blog<\/a>, Coinbase CEO Brian Armstrong first blamed changing economic conditions that may lead to a \u201ccrypto winter\u201d and waited until his third bullet point to mention that the company has \u201cover-hired,\u201d citing its attempt to take advantage of \u201cnew use cases enabled by crypto getting traction practically every week.\u201d <\/p>\n 2\/ We also grew quite quickly over the past two years and have begun to operate less efficiently at our new size. It will take us some time to adjust to this new scale before growing again.<\/p>\n \u2014 Brian Armstrong – barmstrong.eth (@brian_armstrong) June 14, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n 16\/ If you’re unhappy about something, work as part of the team to raise it along with proposed solutions (it’s easy to be a critic, harder to be a part of the solution). If you can’t do that and you’re going to leak\/rant externally then quit. Thanks!<\/p>\n \u2014 Brian Armstrong – barmstrong.eth (@brian_armstrong) June 10, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n<\/div>\n Four days ago, Armstrong responded on Twitter<\/a> to an employee petition calling for the removal of Coinbase execs, calling it \u201creally dumb on multiple levels\u201d and encouraging employees unhappy with the situation or proposed solutions to quit.<\/p>\n The employee petition<\/a> cited issues that don\u2019t seem nearly as dumb as Armstrong claimed, calling out the company for \u201caggressively hiring for thousands of roles, despite the fact that it is an unsustainable plan and is contrary to the wisdom of the crypto industry.\u201d It didn\u2019t mention the Super Bowl promotion, but it did note the over-prioritization of certain projects. That starts with the Coinbase NFT platform that launched with what appears to be exceptionally bad timing<\/a> considering a drop in activity in the overall marketplace and which has failed to catch on among people who trade in the digital tokens.<\/p>\n
\n
<\/br><\/code><\/p>\n\n
\n