Just five days before the Bitcoin Cash halving, Bitcoin.com has allegedly fired half of its staff

Reports show close to 50% of the workforce at Bitcoin.com, one of the largest proponents of Bitcoin Cash (BCH), has been let off following the effects of the Corona Virus. According to Corona Virus’ job tracker alert, Candor, nearly 50% of the workforce at the mining pool and website venture has been sacked amidst the upcoming block reward halving on April 8th, 2020.

Bitcoin.com ‘fires’ half of the workforce

The increasing pressure on Bitcoin.com is clearly showing after recently losing their long term CEO, Roger Ver (still works as Executive Chairman) form the day to day running of the company, now 50% of the 132 employees, as shown on their LinkedIn page, are reported to have left the company.

In a tweet, WhalePanda, a crypto-journalist, wrote:

The correlation with upcoming halving

Bitcoin.com isn’t the only company to be trimming costs. Bitfury is apparently also letting employees go and Ripple has currently imposed a hiring freeze. The “leaner” approach being adopted by the company may be heavily influenced by the next block reward halving estimated at block 630,000 – roughly five days away. As the miner reward drops from 12.5 BCH to 6.25 BCH in line with the Bitcoin halving, the company is expected to suffer financially as the low prices of the token eat into its mining profits. Could this have led to the massive “sack”?

The Bitcoin Cash halving will closely be followed by Bitcoin Satoshi Vision (BSV a day later, in what gives a teaser of the happenings following Bitcoin’s halving this May. We’ll keep an eye out for these events for you!

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