About 4 years back, I was approached to work at Robinhood, a company that is in crypto, banking, stock, and other finance marketplaces. At the time, I was not thrilled by them. As can be expected with the recent crypto crash issues, they just laid off about 1/4 of their employees. This follows a 9% slash just a few months ago, SEC investigations, and much more. Some may point to this as a major indicator of the tech sector, but it’s really an indicator of a bad financial bet in crypto being a viable world to play in.
Robinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%.