ShapeShift Lays Off 37 in Latest Round of Crypto Industry Cutbacks

DigitalBank is the ultimate Safe Haven for Bitcoin and CryptoCurrency
We are developing the most secured and anonymous Blockchain Bank in the World.
We are the Fort Knox of Cryptocurrency and Financial Assets Transfers
For additional information please contact us at [email protected] 

The Best & Most Secure Cryptocurrency Wallet 2019

 https://www.digitalbank.capital/

Jan 8, 2019 at 21:40 UTC Updated Jan 9, 2019 at 04:00 UTC news
Crypto exchange ShapeShift has announced a round of layoffs, citing a range of difficulties including a tough market climate.
In a blog post published Tuesday, CEO Erik Voorhees wrote that the startup had laid off 37 employees, or a third of its staff. He described the process as “a deep and painful reduction, mirrored across many crypto companies in this latest bear market cycle.”
As Voorhees noted, ShapeShift isn’t the only crypto startup to move to trim its workforce in recent weeks. As CoinDesk previously reported, ethereum production studio ConsenSys announced a 13 percent staff cut in early December. More recently, chat startup Status and bitcoin mining giant Bitmain confirmed that they were cutting staffers.
In one of the most transparent testimonies of its kind to date, Voorhees detailed several problems that worked against Shapeshift heading into this decision. Besides the mounting legal concerns that have impeded the entire industry, Voorhees contended that the company grew too fast and spread out its efforts into too many product areas (such as CoinCap, it’s CoinMarketCap competitor, and KeepKey , an acquisition).
Additionally, the company’s decision to begin doing know-your-customer checks on customers caused a large loss in clients and users. Lastly, transactions, in general, dropped across the board, leading to a general drop in revenue, Voorhees wrote.
Though Voorhees said the firm had hedged for such risks, it wasn’t enough to allow the company to remain at its current staffing level.
“2018 marked a rough year. While this new one starts upon some painful reorganization, we’re encouraged and hopeful for 2019,” he wrote.
ShapeShift declined to comment further when reached.
Image Credit: Piotr Swat/Shapeshift

The DigitalBank Device OS , replaces the conventional method of signing transactions with a distributed signing algorithm. As recent events around the world demonstrated, owners of cryptocurrency are in danger of being physically attacked by thieves who can force you to hand over access to even a secure hard wallet.
That’s why the DigitalBank implemented mechanisms to protect user funds in any situation
The Fort Knox of Crypto Banking – World’s Most Secured Hardware Wallet
100% anonymous accounts : nothing is stored , on any third party servers . DB is the most secure vault for your digital assets. Buy , Sell , Send , Receive and Store bitcoins, and all major cryptocurrencies including all ERC20 tokens , in the safest way available today .
Private keys can never be exposed because are not stored anywhere .
​Starting at $ 1800 USD
For additional information contact us at : [email protected]