After publicly announcing plans to slow hiring, tough market conditions have pushed crypto exchange Coinbase to look for ways to slash spending, according to emails obtained by The Information.
Coinbase has felt the fallout of recent market conditions, incurring a net loss of $430 million in its first-quarter earnings and a plummet in its stock, $COIN. That led the firm to announce that it was reevaluating its previous plan to triple the size of the company and instead slow hiring at the moment.
According to internal emails, the extent of that reevaluation appears to be considerably more than just slowing hiring. The Information reported that the emails contain plans to freeze hiring for two weeks and cut spending on cloud services and gas fees among other cost-cutting measures. 
The plan is code-named Plutus, according to The Information, and is detailed in an email from Coinbase Chief Product Officer Surojit Chatterjee. Plutus is the Greek god of wealth, and Chatterjee laid out a

Czytaj więcej

We współpracy z: https://www.theblockcrypto.com/linked/147940/coinbase-is-launching-an-initiative-to-slash-spending-and-grow-revenue-the-information?utm_source=rss&utm_medium=rss