Majority of cryptocurrency workers feel secure in their jobs—Survey

LAGOS (CoinChapter.com) — A new survey has found that the majority of workers in the cryptocurrency industry feel secure with their jobs, despite the recent laying-off of workers by several companies.

In detail, a study carried out by a crypto outlet indicated that the recent downtrend in the crypto industry has not affected the confidence of workers in the space. According to the study, crypto employees remain confident, as long as they don’t have to go to the office.

Although several crypto establishments have been laying off workers, respondents in the survey reiterated their commitment to the crypto industry.  Notably, the survey indicated that more than half of the respondents are actually satisfied with their job security.

Furthermore, 57% of respondents polled stated that their organizations were actively recruiting staff. This was just as 31% of persons surveyed said that their organizations were holding steady despite the industry downtrend. Meanwhile, only 6% of respondents indicated that their organizations were letting go of workers.

Additionally, the study found that 38% of respondents were strongly convinced pertaining to the security of their job. While, only 9% disagreed, with the purported security of crypto jobs.

It is also worth noting that the survey polled 170 respondents across various sections of workers in the crypto space. Data for the survey was reportedly polled in the last 30 days.

Growing Number Of Cryptocurrency Firms Are Laying Off Workers

Despite the larger percentage of crypto workers confidence in their jobs. It is important to note that a growing number of crypto firms are laying off workers.

Recently, Winklevoss-led crypto exchange and custodian Gemini cuts of about 10% of its workforce. The firm cited turbulent market conditions that are likely to persist for some time. Soon after, Middle Eastern crypto exchange Rain Financial said it was cutting dozens of jobs due to the difficult market.

Additionally, Coinbase has reiterated that it would be extending the duration of its previously-announced hiring pause. The exchange even went as far as rescinding accepted job offers as part of cost-cutting maneuvers amid tough market conditions.

Elsewhere, Argentina-based cryptocurrency exchange Buenbit recently laid off 45% of its staff. Furthermore, top Latin American crypto exchange Bitso cut 80 employees out of its workforce of about 700 workers, and Brazilian exchange Mercado Bitcoin laid off over 80 employees.

Masha Boone, vice president of NFT exchange Rarible disclosed that as a result of the recent market volatility dismissals will likely progress into the summer.

“However, it is important to recognize this as an opportunity to reflect on what is needed in the cryptocurrency space and reconsider where the industry is headed from here.”

Boone explained.