By Kate Tracy, BusinessDen
ShapeShift AG, one of the biggest names in Denver’s nascent cryptocurrency scene, said it has laid off 37 people – one-third of its staff.
CEO Erik Voorhees announced the layoffs last week in a surprisingly lyrical blog post, at one point referring to those let go as “departing foxes” in a nod to the company’s logo.
“The latest crypto winter is upon us, and today ShapeShift felt the bitter frost,” he began, later adding, “Crypto, like the moon we strive toward, is a harsh mistress.”
The layoffs came after a year of steadily falling cryptocurrency valuations, and three months after the company played a leading role in a Wall Street Journal investigation.
To read the full story, go to BusinessDen
