Ethereum Chat Startup Status Lays Off 25% of Staff

Ethereum browser startup Status.IM is cutting a quarter of its staff due to the ongoing downturn in cryptocurrency prices.

Announcing the move internally on Monday, co-founder Jarrad Hope said that the startup is much larger than can be sustained due to the fact that the company did not anticipate ethereum’s price dropping more than 80 percent.

COO Nabil Naghdy first publicly confirmed the layoffs when reached by CoinDesk on Friday.

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