Crypto firm BlockFi to fire 20% staff, CEO cites 'macroeconomic conditions'

Cryptocurrency firm BlockFi on Monday announced that it will fire 20% of its 850 employees and that the job cuts will impact every team in the company. CEO Zac Prince while sharing a Twitter thread about it wrote, "We’ve been impacted by the dramatic shift in macroeconomic conditions", and this was not a "decision taken lightly".