Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day.
The economy and markets are “under surveillance”. Bloomberg Surveillance, covering the latest news in finance, economics and investments.
This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap.
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Hannah Miller and
Yueqi Yang
Two big names in crypto are cutting jobs as the digital currency market continues to spiral downward. Crypto lending platform BlockFi Inc. said Monday that it will reduce its headcount by about 20%, while digital currency exchange Crypto.com announced a 5% cut on Friday.
The layoffs are yet another sign of trouble for the once white-hot crypto industry. Celsius, another top crypto lending platform, said Sunday that it was pausing withdrawals, swaps and transfers following weeks of speculation that it would be unable to pay out the significant returns promised on its products. Earlier this month, crypto exchange Gemini Trust Co. said it plans to slash 10% of its staff and Coinbase Global Inc. also announced that it is rescinding job offers and freezing hiring.
