Bitcoin.com Fires 50% Staff As Bitcoin Cash Halving Approaches, Is Fear Factor Setting In?

Published by
Bitcoin.com Fires 50% Staff As Bitcoin Cash Halving Approaches, Is Fear Factor Setting In?

The Bitcoin Cash (BCH) community is at a tough spot as recent reports show a different type of halving from what the enthusiasts were expecting in the next five days or so. Are the two related in any way?

Advertisement

Fear factor: Bitcoin.com ‘fires’ half of the workforce

Reports show close to 50% of the workforce at Bitcoin.com, one of the largest proponents of Bitcoin Cash (BCH), has been let off following the effects of the Corona Virus. According to Corona Virus’ job tracker alert, Candor, nearly 50% of the workforce at the mining pool and website venture has been sacked amidst the upcoming block reward halving on April 8th, 2020.

The increasing pressure on Bitcoin.com is clearly showing after recently losing their long term CEO, Roger Ver (still works as Executive Chairman) form the day to day running of the company, now 50% of the 132 employees, as shown on their LinkedIn page, are reported to have left the company.

In a tweet, WhalePanda, a crypto-journalist, wrote,

“Tough times for CEO of $BCH, @rogerkver. CEO of Bitcoin.com left, they’re going for a “leaner” approach but according to a report on https://candor.co/hiring-freezes/ they’ve fired 50% of the staff. Let’s hope that he is forced to sell the bitcoin domain that he’s using to scam people soon.”

Source: Whalepanda
Advertisement

Correlation with upcoming halving

The “leaner” approach being adopted by the company may be heavily influenced by the upcoming block reward halving estimated at block 630,000 – roughly 5 days away. As the miner reward drops from 12.5 BCH to 6.25 BCH in line with the Bitcoin (BTC) halving, the company is expected to suffer financially as the low prices of the token eat into its mining profits. Could this have led to the massive “sack”?

The Bitcoin Cash halving will closely be followed by Bitcoin Satoshi Vision (BSV a day later, in what gives a teaser of the happenings following Bitcoin’s halving this May. We’ll keep an eye out for these events for you!

Advertisement

Share
Lujan Odera

Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B

Michael Saylor hinted that Strategy would not be making its routine Bitcoin purchase this week.…

October 5, 2025
  • 24/7 Cryptocurrency News

Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana

Crypto experts have begun to make bullish projections for Pudgy Penguins’ native token, PENGU. This…

October 5, 2025
  • 24/7 Cryptocurrency News

ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

ASTER has announced that the roadmap for its second airdrop phase is set to begin…

October 5, 2025
  • 24/7 Cryptocurrency News

El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset

El Salvador is now sitting on $482 million in unrealized gains in its Bitcoin holdings.…

October 5, 2025
  • Bitcoin News

Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force

The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…

October 5, 2025
  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025