Roger Ver says that cut only 10% of its workforce

In short

  • only sacked 10% of staff, says startup company founder Roger Ver.
  • New Crypto sites had previously claimed that 50% of staff had been laid off.
  • Bitcoin Cash prices have dropped significantly and halved due within the next 48 hours.

Ongoing rumors that a blockchain platform sacked half of its staff were removed today by founder Roger Ver. She said Decrypt that only about 10% of staff were laid off as a result of the economic crisis.

“ had 84 people as of April 30 2019 and we now have 76 people as of April 2020,” said Ver. “There were some layoffs, but nothing like what is reported by the online trolls.” founder Roger Ver blames “Bcash” trolls for the wrong information. Image: Decryption

Recent reports drew on data from Candor, a professional network that tracks freezes and layoffs in the midst of a coronavirus crisis. They suggested that has distributed up to 50% of its workforce.

News outlet zyCrypto he also said he had examined information available on the official page on LinkedIn, to suggest that “half of the 131 employees are now out of work.”

However, the company has dropped hold of its former CEO Stefan Rust.

In a Medium post, Rust said, “I have been bitcoin since 2013 and that will not change. I will continue to be involved in the ecosystem and work to grow distribution for supply and demand for BCH and SLP. But I have to admit that I enjoyed the 200% speed change of 20 hours 6 days a week, to “shelter at home with my family” – they may disagree;). ”

Ver also told a crypto news site Conscience that is to become “a leaner, more gullible team.”

The cuts follow a market crash in the price of Bitcoin Cash and other cryptocurrencies. The price of Bitcoin Cash fell from a peak of $ 488 in February to a minimum of $ 140 in March – a 71% decrease. Since then the price has improved up to $ 240.

Prices apply because operates mining pools, which make money from mining cryptocurrencies. But Bitcoin Cash miners are set to hit twelve with the upcoming Bitcoin Cash halving – due within the next 48 hours.

This will cut Bitcoin Cash miners’ revenue in half. And that’s when, for miners – and mine operators – the pain really begins.

The Bitcoin Cash halving is imminent is at the forefront of promoting Bitcoin Cash (BCH,) and the cryptocurrency is expected to halve within the next 48 hours.

On Friday, Ver told another crypto news site, Conscience that was to be “a more slender guerrilla team.”

His announcement came following the the departure of the company’s CEO, Stefan Rust, to work on other projects.

Some sites speculated that the upcoming halving of BCH could be the reason for the layoffs, with mining on the network only profitable as long as prices remain high.

But Ver was adamant that the rumors of mass layoffs were the work of anti-BCH trolls.

“The peer-to-peer cash trolls hate BCH because they fear it will undermine their rich fast ponzi scheme that BTC has turned in,” he insisted.

“There were some layoffs, but nothing remotely close to what some of the online” Bcash “trolls say.”

But it will soon become clear whether concerns about the network will be justified, when the halving occurs and miners surrender to enter the more profitable Bitcoin network, as suggested.