208 views
Photo by Jievani Weerasinghe on Unsplash

Singapore tops cities with most crypto layoffs

Over 3,000 workers in the industry got laid off in a year.

The Lion City had the most crypto layoffs from February 2022 to February 2023, data from BitcoinCasinos showed.

Singapore, home to major firm Crypto.com, had 3,719 crypto layoffs.

BitcoinCasinos observed a spike in layoffs globally in June 2022 following the crash of Terra Luna and in November 2022 following the FTX collapse. 

In the first two months of 223, layoffs have reached 3,029, already over 30% of the total layoffs in 2022.

“The crypto market remains uncertain for both investors and workers as we move through early 2023. The recent layoffs may signal the end of the ‘crypto boom’ but not the industry itself. Whilst the recent news of big players folding and numerous firms cutting workforce numbers point to a downturn for the immediate future, most firms are just returning to their pre-boom size,” Liam Solomon, Growth Manager at Bitcoin Casinos commented.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!