dotcom bubble

Auto Added by WPeMatico

Ethereum Studio Consensys’ Wild Ideas and Squandered Funds Led to Major Layoffs

by

Ethereum incubator Consensys is to cut 50 to 60 percent of its employees. The blockchain software company has already laid off 13 percent of its workforce in order to survive the bear market. According to one source, lack of product, wild ideas and an inability to sell technologies has made Consensys’ position financially precarious. As a result, … Read more

Peak Blockchain Hype? Firm With No Revenues and No Product Is Worth $1.2 Billion

by

Following this year’s massive bitcoin rally, a bubble has developed in the stock market that most cryptocurrency traders may not be familiar with. Companies are declaring themselves to be blockchain-based in order to ride the hype train to higher stock prices. The latest example of this is a Hong Kong startup with no revenues which … Read more