Vauld Layoffs

I am friends with some people at Vauld and was told that they laid off more than 20% of their staff yesterday. That is too bad as they had a really nice app and most things worked fairly smooth outside of the sometimes delayed deposits and withdrawals. I am a bit surprised they are keeping it a secret and not being more transparent by making an announcement. It does sound like it was their entire marketing and content team which is better than it being the support team. It sounds like 35 individuals were laid off out of their total staff of 140 people. While the total number is not huge I am sure it is going to have a significant impact even just on the morale within the company.

It sounds like they were unable to get another Series B round of funding and have lost a significant amount of their assets under management just like many other exchanges. They are still paying out high yields and have yet to drop them. The crypto winter continues.

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5 thoughts on “Vauld Layoffs”

  1. Coinbase did the same a few days ago. Meanwhile Binance & FTX are opening to new hires & making acquisition.

    Crypto winter is shaking up the power players. Those who were prepared will gain a ton from acquiring struggling companies or getting new hires at / below market rates

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  2. Everyone seems to be laying off people, Coinbase, LocalBitcoins… but hey, there are others that are still hiring nowadays – Binance, Kraken, Cartesi, Equilibrium etc. Still lots of jobs being posted on Crypto Jobs, too! This is an emerging industry and it’s not going anywhere! Things will turn around, eventually!

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  3. Many of these off brand exchanges will suffer. Lots won’t survive. The difference with binance, ftx, huobi, kucoin. Is that besides being and exchange.nthsybhabe venture capital arms where they’ve been actually involved in a lot of the capital raises of many projects. And hold equity across the board in many crypto companies. Also they have very deep pocketed investors. But you will see them expand.

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