Crypto winter has hit ShapeShift

[Paha87]

The platform for instant exchange of cryptocurrencies ShapeShift reported on Tuesday, January 8, a significant reduction in personnel, calling as the reasons for the General deterioration of the situation in the market.

As the head of the company Eric Voorhees said, with a "heavy heart" he had to say goodbye to 37 employees, which is about a third of the total staff of the company.

"This is a deep and painful reduction, consistent with the actions of many other cryptocurrency companies during the last cycle of the bear market," wrote Voorhees.

According to him, the crypto business is a cruel thing. Thus, in 2017, the capitalization of ShapeShift due to the rise of the market grew by 3000%, but everything changed very much in 2018.

Eric Voorhees notes that in addition to the legal uncertainty faced by the industry, ShapeShift is unable to cope with all the initiatives taken. In particular, he mentioned the tracking service CoinCap and hardware wallet KeepKey.

It is interesting that the head of ShapeShift also admitted that last year's decision of the company on mandatory verification of customers led to a significant reduction in the user base.

Wishing good luck to all who left the company "foxes" (symbol ShapeShift), Eric Voorhees expressed the hope that the company will find the strength and discipline that will help it to overcome all obstacles and come to the victory of the world without borders and apolitical financial system.

Link to the source of information (Russian) - https://forklog.com/kriptozima-udarila-po-shapeshift-legendarnaya-bitkoin-kompaniya-sokratila-tret-personala/