Bullish, right? But the vibes were off, with a clear lack of enthusiasm on Crypto Twitter as āUptoberā hit its apexāand that wasnāt the worst of the bearish overtones. Just this week alone, crypto firms Consensys, dYdX, and Kraken all announced sizable layoffs, plus Coinbase missed its earnings expectations.
Why all the layoffs? Analysts told Decrypt that the bearish signs could be due to anxiety around short-term election and regulation anxiety, Wall Street giants taking investment away from crypto-native firms, the costs of fighting SEC threats, and other factors.
āThis is definitely the most bearish bull market of all time,ā Ninepoint Partners Managing Director of Digital Assets Alex Tapscott told Decrypt, summing it up.
Bitcoin Is SurgingāSo Why All the Crypto Layoffs?
Top crypto companies announced layoffs this week, a signal that may mean trouble ahead for the industry beyond the presidential election.
Where Do Kamala Harris and Donald Trump Stand on Crypto?
Election Day is nearly here, and the result could impact the future of crypto in the U.S. Here's where Trump and Harris stand.
āHamster Kombatā Token Hits All-Time Low Price With Next Telegram Game Season MIA
Season 2 of Hamster Kombat didnāt arrive in late October, as expected, and the token is falling as players wait for the next phase.
Prediction Market Kalshi's Long-Game Play to Court Crypto Traders
Kalshi says that it has seen surging USDC adoption since opening deposits this weekāand as prediction markets heat up, more crypto additions could come.
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āA lot of the capital, I think, is sitting on the sidelines, and is nervous about coming into this space until they see some more clarity.ā
