This was reported by the Chief Executive Director and co -founder of Brian Armstrong in a letter published on the company’s website.
“Economic conditions are changing rapidly: we seem to be in recession after 10+ years of economic boom. Recession can lead to another cryptosis and will last a long period. Over the past cryptosis income from trade (our largest source of income) has decreased significantly. Although it is difficult to predict the economy or markets, we are always preparing for the worst, ”the company manager explained.
He noted that the company was growing too fast: at the beginning of 2021 it had 1,250 employees, since then their number has increased 4 times.
The statement appeared against the background of a large -scale fall in the cryptocurrency market. On Tuesday, June 14, the Bitcoin course dropped below the $ 21 thousand marks for the first time since December 2020, according to CoinmarketCap. Bitcoin is now traded at about $ 22.2 thousand, although a week ago, its cost exceeded $ 31 thousand.
We will remind, the price of bitcoin on June 13 fell below $ 25 thousand, the etherium – below $ 1.3 thousand. For the most popular cryptocurrency to the red zone, almost the whole market. The greatest fall in the last day was demonstrated from the most expensive cryptomotor Solana (-18.1%) and Dogecoin (-17.9%).
The total capitalization of the market decreased by almost 11.6% and is less than $ 1.02 trillion. BTC dominance index – 45.2%, ETH – 14.6%.