Crypto Jobs Get Squeezed as Markets Continue to Free-fall

Crypto traders are not the only ones to suffer when prices plummet and markets crash. The wave of startups that emerged over the past year or so to ride the crypto train has also started to feel the pinch and downsize, or close up altogether.
Crypto Startups Feeling the Pinch
As the crypto winter intensifies, the number of companies forced to lay off employees is growing. The impact has been so significant that even Bloomberg ran a story last week on the demise of a number of crypto startups. Companies that have raised funding in cryptocurrency and have been using it to pay for staff can no longer do so as the prices are now well below what they were when they started.
The Ethereum Classic developer group, ETCDEV, has been one of the victims when it announced its closure as reported by NewsBTC last week. A group executive cited financial issues as the root cause of the closure which comes as no surprise in the current climate.
Other crypto firms such as Steemit and Spankchain have also been forced to downsize with losses of up to 70% of their employees. One of the biggest names in the ecosystem, ConsenSys, has also felt the squeeze with the loss around 13% of its estimated 1,200 employees. A press release last week labeled the workforce culling as a new chapter in the development of the organization, ConsenSys 2.0.
“Our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members,” it added.
Since the company deals primarily with Ethereum, downsizing comes as no surprise considering that the price of ETH has downsized itself by 93% since its all-time high.
The explosion of new crypto media outlets witnessed over the past year will also inevitably contract as the smaller ones go under because can no longer afford to pay for writers and editors due to diminishing ad revenue from crypto projects. Like an episode from a nature documentary, only the fittest will survive the crypto winter.
Hope is not all lost, however, and the crypto community is pulling together in its own way. Twitter, being the social media of choice for crypto aficionados, has been put to use by some members to post lists of crypto companies that are still hiring;

Companies that are hiring:– @ZeppelinOrg – @golemproject – @AragonProject – @neufundorg – @gnosisPM – @Chainzillaio – @web3foundation – @ParityTech – @BeaxyExchange We’re putting up a list for the people downsized. Are you hiring? A lot of talent is on the loose! DM me!
— María Paula (@MPtherealMVP) December 7, 2018

Support for the growing list of unemployed crypto specialists in this still nascent industry is growing. In what appears to be a case of extended hibernation rather than capitulation, those that have recently lost crypto jobs will need to hunker down for the winter and wait for warmer times.
Image from Shutterstock
The post Crypto Jobs Get Squeezed as Markets Continue to Free-fall appeared first on NewsBTC.
Source: New feedNewsBTC.com

Tron [TRX]’s Justin Sun invites ETCDEV developers to join the “family”

Justin Sun, the Founder and CEO of Tron Foundation, has always been in the limelight because of the brawl with Vitalik Buterin, the co-founder of Ethereum. Additionally, Ethereum, the third biggest cryptocurrency and the leading smart contract platform, has always been the biggest competitor of Tron, with the network surpassing that of Ethereum’s on several terms.
Now, Sun is back in the spotlight because of his invitation to one of the Ethereum Classic’s development team. The development team happens to be Ethereum Classic Development Company aka ETCDEV, which recently announced that they would be shutting down their operations.
The team has been responsible for taking care of the main client of Ethereum Classic, Classic Geth, ever since the occurrence of the DAO hack that resulted in split chains. The team is also known for the development of Emerald, Sputnik VM and Orbita. The reason for the company wrapping up their operations is owed to be the bear market, which resulted in the team failing to raise the sufficient fund required for the development of one of the leading projects.
Justin Sun said on his official Twitter handle:
“You can join #TRON family! Actually one developer in @etcdev has contacted us. #TRX $TRX”
Chris Tannahill, a Twitterati said:
“Despite what people may say, I think you’re doing some great things in this space, Justin  Some projects have brilliant ideas that are not sustainable in the current bear market. It’s awesome that Tron is looking to support developers through these difficult times. Keep it up”
PabloTheViking, another Twitterati said:
“Very clever move, Justin! This might turn out to be the smartest move you have ever done to lay the foundation for future growth of the Tron platform. Developers and applications are key to win this battle!”
Recently, Sun stated that Tron would be building a fund in order to rescue Ethereum [ETH] and EOS developers from the “collapse” of their respective platforms. He stated that the fund will be of help to them only if the developers chose to migrate their dApps to Tron.
The post Tron [TRX]’s Justin Sun invites ETCDEV developers to join the “family” appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic Development Team Freezes in the Crypto Winter

CoinSpeaker

Ethereum Classic Development Team Freezes in the Crypto Winter

Ethereum Classic Development Team (ETCDEV) becomes the next victim to freeze in the Crypto winter. The CTO confirmed that dwindling resources resulted in the shutdown.

Ethereum Classic Development Team Freezes in the Crypto Winter

Continue reading at Coinspeaker
Source: CoinSpeaker