Swiss cryptocurrency exchange, ShapeShift has dismissed a third of his team — 37 people.
CEO Erik Voorhees (Erik Voorhees) in a blog called “Overcoming ShapeShift crypto winter and the way forward” had recognised that the reduction is associated not only with the problems of the stock market in 2018, but with mistakes in business development.
According to Voorhees, “the best and worst financial decision of the company” was to keep most of the assets in the cryptocurrency. In addition ShapeShift suffered from too rapid development of the business which led to personnel and structural issues, as well as from regulation, which has reduced the competitiveness of the platform, the head of the company.
The most serious error that was made in the development, according to Voorhees, is a lack of focus. Extension from many directions sprayed the resources, both human and financial.
Chapter ShapeShift apologized to those who suffered during the reduction, and finished his post is optimistic:
“Among its many advantages scriptactive allow people (and machines) are easy to store and pass the cost directly to someone else at any point of the Earth. This is awesome and unprecedented power.”
We will remind, earlier it was reported that one of the largest kryptomere world — Huobi — at the end of December was reduced to one third of its staff, which amounted to about 1,400 people. The company from Singapore is also fast expanding business in 2018, creating a number of subsidiaries and offices in Korea, USA, Canada, Brazil, UK, Australia and Russia.