In the latest digital currency news, more than 340 cryptocurrency and/or blockchain companies were dissolved or liquidated this year in the United Kingdom (UK) according to the British news outlet Sky News and its reports from a few days ago.
The article also reports that last year, the number of companies in the industry had been liquidated to a number of 139, which is nearly two and a half times less than this year. Additionally, 60% of the companies dissolved this year ceased activity between June and November along with the strengthened downward trend.
The data that Sky News gathered was based on an article from OpenCorporates, a website sharing data on corporate entities and Companies House which is the UK’s registrar of companies.
It seems like the current downward crypto market movement in 2018 is linked to a lot of staff shortages, even in some of the biggest companies in the space. As of recently, the Chinese giant Bitmain reportedly closed its Israeli development center and laid off 23 employees. ConsenSys is also in the news for laying off a substantial portion of its employees – however the founder Joseph Lubin recently said that the company “remains healthy and is engaging in a rebalancing of priorities and activities which started about nine months ago.”
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