ShapeShift, a platform for instant exchange of cryptocurrency, reported on a significant reduction in staff, citing as the reasons the general deterioration of the market situation.
As the head of the company, Eric Vorhees, said, he had to say goodbye to 37 employees with a “heavy heart,” which is about a third of the company's total staff.
According to him, cryptobusiness is a cruel thing. So, in 2017, the market capitalization of ShapeShift increased by 3000% due to the rise of the market, but everything changed very much in 2018.
Eric noted that in addition to the legal uncertainty faced by the industry, ShapeShift does not cope with all the initiatives taken. In particular, he mentioned the CoinCap tracking service and the KeepKey hardware wallet.
It is curious that the head of ShapeShift also admitted that last year’s decision to verify customers had led to a significant reduction in the user base.
Wishing good luck to all the foxes who left the company (ShapeShift symbol), Eric Vorhees expressed the hope that the company would find strength and discipline that would help it overcome all obstacles and come to a victory for the world without borders and an apolitical financial system.