{"id":38059,"date":"2022-06-05T21:52:40","date_gmt":"2022-06-05T21:52:40","guid":{"rendered":"https:\/\/harchi90.com\/coinbase-freezes-hiring-and-rescinds-accepted-job-offers\/"},"modified":"2022-06-05T21:52:40","modified_gmt":"2022-06-05T21:52:40","slug":"coinbase-freezes-hiring-and-rescinds-accepted-job-offers","status":"publish","type":"post","link":"https:\/\/harchi90.com\/coinbase-freezes-hiring-and-rescinds-accepted-job-offers\/","title":{"rendered":"Coinbase freezes hiring and rescinds accepted job offers"},"content":{"rendered":"
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Coinbase is pulling back on its hiring efforts. In a memo posted to Coinbase’s site, chief people officer LJ Brock announced that Coinbase is putting a pause on hiring new employees, as well as rescinding several job offers already accepted by prospective workers, citing “current market conditions and ongoing business prioritization efforts.”<\/p>\n

The shift comes as the cryptocurrency market continues to trend downwards, dragging the supposedly immovable stablecoins, which are pegged to a fiat currency or commodity, with it. Coinbase started to slow hiring in mid-May to make sure the company is \u201cbest positioned to succeed during and after the current downturn,\u201d but this move halts hiring completely. Brock notes that the freeze will also affect backfills, or the employees hired to replace workers leaving the company. It excludes those hired to fill roles in \u201csecurity and compliance,\u201d however.<\/p>\n

Coinbase is also contending with a lackluster response to the social NFT marketplace it launched widely in May. According to data from Dune Analytics viewed by The<\/em> Motley Fool<\/em>, <\/em>4,132 people purchased an NFT on the platform within 19 days of its launch, and gross sales amounted to $ 875,000, or an average of $ 46,000 per day. It doesn’t help that NFT sales are declining as a whole, dipping to about 19,000 sales per week at the beginning of May, as opposed to the 225,000 NFT sales made in September.<\/p>\n

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