Crypto lending platform BlockFi is slashing about 20% of its head count, as the fast-changing macroeconomic environment weighs on the company’s growth rate.
BlockFi has about 850 employees, up from 150 at the end of 2020, Zac Prince, the company’s chief executive tweeted Monday.
The crypto lender made the decision as bitcoin BTCUSD, -14.22% is down 65% from its all-time high in November, while other smaller coins fell even more.