{"id":180520,"date":"2023-10-25T09:11:23","date_gmt":"2023-10-25T03:41:23","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180520"},"modified":"2023-10-25T09:11:23","modified_gmt":"2023-10-25T03:41:23","slug":"parity-technologies-polkadot-blockchain-developer-lays-off-30-of-staff-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/parity-technologies-polkadot-blockchain-developer-lays-off-30-of-staff-crypto-news\/","title":{"rendered":"Parity Technologies, Polkadot blockchain developer, lays off 30% of staff &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Parity Technologies, the company behind the Polkadot blockchain, is cutting 30% of its workforce \u2014 about 100 employees \u2014 amid a widespread wave of staffing cuts across the crypto industry.<\/p>\n<p><em>See related article: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/chainalysis-cuts-150-employees\/\"><em>Chainalysis cuts 150 employees<\/em><\/a><\/p>\n<h2 class=\"wp-block-heading\">Fast Facts<\/h2>\n<ul>\n<li>The decision to lay off staff arrives as Parity attempts to refocus on its core Polkadot blockchain and cryptocurrency services.<\/li>\n<li>Most of the cuts will be in the marketing and business development departments.<\/li>\n<li>Parity\u2019s CEO, Bj\u00f6rn Wagner, told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-23\/polkadot-blockchain-developer-parity-to-eliminate-about-30-of-staff\">Bloomberg<\/a> via a spokesperson that the company aims to allow affected employees to continue contributing to Polkadot.<\/li>\n<li>Wagner said that Parity\u2019s financial health and regulatory engagement \u201cremains robust.\u201d<\/li>\n<li>Polkadot\u2019s DOT token has a market value of $5.3 billion and is ranked 13th among non-stablecoin cryptocurrencies.<\/li>\n<li>The token has seen a 40% drop from its year-high in February amid an industry-wide downturn in the crypto market.<\/li>\n<li>Parity had hinted at the layoffs earlier in a social media post that said Parity is \u201csunsetting its go-to-market functions.\u201d<\/li>\n<li>Other crypto technology firms, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/polygon-labs-cut-20-of-workforce\/#:~:text=Polygon's%20decision%20to%20cut%20staff,ConsenSys%20slashed%20over%20100%20employees.\">Polygon Labs<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/circle-usdc-layoff-stablecoin\/\">Circle<\/a>, also announced job cuts in the past year. The DeFi sector, including decentralized exchanges and peer-to-peer lenders, has faced challenges amid declining risk appetite and crypto market volatility.<\/li>\n<\/ul>\n<p><em>See related article: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/binance-us-layoff-ceo-brian-shroder\/\">Binance.US cuts one-third of workforce; CEO Brian Shroder steps down<\/a><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Parity Technologies, the company behind the Polkadot blockchain, is cutting 30% of its workforce \u2014 about 100 employees \u2014 amid a widespread wave of staffing cuts across the crypto industry. See related article: Chainalysis cuts 150 employees Fast Facts The decision to lay off staff arrives as Parity attempts to refocus on its core Polkadot [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":180521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-180520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180520"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180520\/revisions"}],"predecessor-version":[{"id":180522,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180520\/revisions\/180522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180521"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}