The cooling crypto atmosphere and the subsequent downturn in trading has had a domino effect for people who work in the sector. In the wake of plummeting prices, a flurry of crypto firms reduced their numbers with significant layoffs. Coinbase announced an 18% )reduction of it’s workforce, BlockFi cut their headcount by 20% )and Crypto.com by 5%). So, what happens to these former crypto employees?
An increasing number of them are getting snatched up by traditional financial firms or Trad-Fi. The skills that these talented engineers and developers have accumulated is now very much in demand with Trad-Fi firms, who want to explore the crypto space and experiment with blockchain technologies.
Bloomberg reporters Will Shaw) and Aisha Gani) join this episode** **to explore why Trad-Fi institutions are swooping in for laid off De-Fi experts.
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