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After rapidly scaling operations, Robinhood is now aggressively cutting costs and laying off employees in the light of the market downturn.
Robinhood’s CEO, Vlad Tenev, announced that the company will be laying off 23% of its workforce in light of difficult market conditions.
Today, the U.S. Department of Justice brought charges on three suspects for their alleged involvement in an inside trading scheme, one of the suspects was a former Coinbase employee. The case seems poised to have major implications for the crypto industry.
Bitcoin (BTC) found strength at $22,000 into July 24 with bulls still aiming for a solid green weekly close.
BTC/USD 1-hour candle chart (Bitstamp).