Crypto layoffs are starting to stack up

Major altcoins have lost 60% of their combined trading volume since the Oct. 10 crash, with Binance spot volume plummeting 80–85% to $7.7 billion. The decline reflects a broader contraction in market liquidity, with the amount needed to move prices by 1% falling from $2.6 million to $1.7 million. The market is now stuck in neutral – neither favoring bitcoin nor entering altcoin season. Read more →

Prediction market platform Kalshi raised over $1 billion at a $22 billion valuation in a Coatue-led round, roughly doubling its value since November. The company's ARR has reached $1.5 billion, and institutional firms like Susquehanna and Jump Trading remain active participants. The funding comes despite mounting regulatory pressure, including criminal charges filed by Arizona and a recent court setback in Nevada, though Kalshi argues its contracts fall under federal derivatives oversight. Read more →

The market hasn’t exactly been ripping lately and now the cost-cutting is starting to show. Algorand just cut 25% of staff citing macro and market pressures… Crypto-com is trimming 12%… OP Labs cut 20 roles… Messari paired job cuts with another leadership shake-up as it pivots toward AI… and Gemini is cutting 25% of its workforce and exiting markets including the UK, EU, and Australia. This has all happened in the last week alone. Read more →

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