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The cryptocurrency world has been on a long winter season. The market seemingly getting worse as each day goes by. Many investors have been affected and have experienced great losses in their investments.
The crypto winter has also affected crypto companies across the blockchain ecosystem with many having to lay off staff. Large companies like Coinbase and Meta had a significant taste of the winter.
Even though some many crypto tokens and companies were affected, others withstood the effects and some even did well. For example, Budblockz (BLUNT) is a new cryptocurrency that actually managed to thrive in the face of adversity.
Coinbase faces a downturn due to the crypto winter
Coinbase is a safe and well-known online cryptocurrency exchange platform for buying, selling, transferring, and holding cryptocurrency. The platform is based in the US and was founded by Brian Armstrong and Fred Ehrsam. Coinbase has over 50 million users globally.
The goal of Coinbase is to create a financial system that is accessible to every individual and helps make dealing with crypto easier with several different services. For example, Coinbase users can convert their cryptocurrency into their local currency and vice versa. It is one of the largest exchange platforms in the crypto space.
Unlike the centralized banking system, which is controlled and run by groups of individuals, Coinbase wants a system that no country or company can influence. As a result, it runs a decentralized financial system.
Recently, Coinbase has been experiencing hard times. According to the CEO, Brian Armstrong, the global economic condition seems to be changing. This change brought a downturn in the economy, likely leading to a recession and caused the crypto winter. Because of this, Coinbase had to lay off about 60 of its team members to control the situation.
Meta was deeply affected and had to let go of some of its workforce
Meta, formerly named Facebook, was founded by Mark Zuckerberg. The company changed its name to focus on and develop the metaverse. However, its new protocol needs to function better and provide more comfort to investors, who are becoming concerned with Meta’s rising expenses – which have risen annually.
Meta has had a tough ride and was forced to lay off about 11,000 of its staff. According to the CEO, the revenue outlook was lower than expected, so the decision had to be taken.
Budblockz (BLUNT) thrives in difficult circumstances.
Budblockz (BLUNT) is a decentralized cryptocurrency that has flourished in the face of the crypto winter. Budblockz focuses on bringing cannabis users and their products together by providing a safe and secure environment for buying and selling.
Budblockz (BLUNT) is based on blockchain technology, but it also brings with it the growing cannabis industry. Until now, the cannabis industry has struggled with centralized systems, which have affected how users can buy and sell marijuana in places where it is legal. The old methods were failing to meet the ever-growing demand and this is why the BudBlockz platform has been been proving so popular.
John S., the founder of Budblockz, has built a blockchain platform to solve the banking and centralization problem. Using a decentralized platform, BudBlockz, and its native token BLUNT, is bridging the gap between between users and the cannabis industry.
Investors and analysts have been eager to get involved with the project after seeing BudBlockz’s potential for supplying the growing demand for cannabis. BLUNT could be the miracle the crypto world needs to overcome the winter.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
BudBlockz Community Links: https://linktr.ee/budblockz
Use the promo code “CYBERWEEK” to receive a 20% bonus on your $BLUNT purchase before 5 December 2022.
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