Nelson Wang
Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.
- “The reality is that we have entered an unprecedented combination of crypto winter and broad macroeconomic instability, and we need to prepare the company for the possibility of a prolonged downturn,” Finzer wrote in a note to staff.
- Finzer said the layoffs put the company in position to weather up to five years of depressed conditions at OpenSea’s current volume and not have to have further layoffs.
- “With the hard (but important) changes we made today, we’re in an even better position to capture what will soon become the largest market on the planet,” Finzer added.
- OpenSea joins a number of crypto firms, many of them exchanges, that have laid off staff or paused hiring in recent months. Gemini, Coinbase, Crypto.com and Bullish.com have all announced layoffs recently.