Coinbase Will Not Expand its Workforce

Crypto exchange Coinbase announced in February it intended to hire about 2,000 more people. However, the dominance of the bearish sentiment in the market has forced the company to reconsider this measure.

According to a press release published yesterday by the exchange, the company is refusing such a significant increase in the company’s staff for the time being. It has decided to slow down the pace of hiring new employees and focus on the most promising and profitable areas.

The company employed about 1,700 people in 2021, and now the number of employees is 4,948.

Many Wall Street analysts believe Coinbase is spending a lot of money on maintaining such a large staff.