Bitcoin value suffered more than 2.7 per cent loss after the Binance layoff news. As per the WSJ s report, Binance could let go of up to one-third of its workforce, which was nearly 8,000 prior to the start of layoffs. Bitcoin Prices Crashes Over Reports of Cryptocurrency Exchange Binance Laying Off 1,000 Employees.
Coinbase Global, Chainalysis and Gemini all announced layoff plans earlier in the year after more than a trillion dollars were wiped out from the sector in 2022.