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Representatives of the Bloomberg publication published data that Galaxy Digital Corporation plans to reduce up to 20% of its staff. This was caused by a protracted bearish trend in the market, in which the company’s shares lost about 70% in price. This year, Galaxy Digital CEO Mike Novogratz has come under fire from the crypto community for supporting the Terra ecosystem that collapsed in May of this year.
Experts note that the potential dismissal of employees is not something new for the company. In early 2020, Galaxy Digital laid off 15% of its staff. In 2021, the situation has stabilized as the crypto market has moved into an uptrend phase.
In the same year, Mike Novogratz’s personal fortune reached $8.5 billion. Despite the unstable situation of the crypto industry, the entrepreneur himself positively assesses future prospects. This year, he already predicted that in a few years bitcoin would reach $500,000.
However, Novogratz emphasized that it is not worth expecting a significant strengthening of Bitcoin in the face of tightening the monetary policy of the Federal System.
Earlier, the Crypto.ru team informed: experts evaluated Elon Musk’s further actions regarding crypto-integration within Twitter. They believe that the situation in this matter is still ambiguous. Previously, the billionaire has repeatedly spoken about potential crypto transactions in this social network.
There were also rumors that the Dogecoin digital currency will appear on Twitter in the near future, however, there is confirmed data on this matter. Some critics said that the position of the social network under the leadership of Musk will only get worse. From the internal statistics of the company, it became known that the most active users are already leaving the network en masse.
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