Coinbase (COIN) is the latest crypto company to announce cuts.
In a blog post Thursday by Chief People Officer L.J. Brock, Coinbase said it will "extend our hiring freeze for both new and backfill positions for the foreseeable future and withdraw a number of accepted offers."
The cuts come "in response to current market conditions and ongoing efforts to prioritize the business."
The hiring freeze is a continuation of a plan announced last month. Previously, fellow exchange Gemini announced Thursday it would lay off 10% of its staff, or about 100 employees.
This is an evolving story and will be updated.