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welcome to Chain reaction.
This month was filled with announcements from major cryptocurrency companies laying off employees. Of course, this “trend” isn’t limited to this industry — there’s a broader resizing of the tech workforce: Salesforce, Amazon, Meta, Alphabet, and Microsoft have all laid off in recent weeks. bottom.
So this week, I wrote two in-depth articles to help those who have been laid off (probably you, dear readers) stand out and find new jobs in this unforgiving market. We spoke to dozens of recruiters, talent heads, and founders. They told us what they were looking for in a candidate and what the process from interviewing to hiring was like.
What’s your first advice? “Go crazy with web3,” Space and Time co-founder, president and CEO Nate Holiday told TechCrunch. “If you don’t eat, sleep, and smoke web3, you probably aren’t cut out for this industry.”
Candidates can also stand out by building a personal portfolio in open source projects, contributing to DAOs, taking on community ambassador roles, and participating in Discord conversations. told TechCrunch. Publishing work publicly and building a social media presence will help candidates find new opportunities, he added.
See below for details.
web3 of the week
Fired from your crypto job?Here’s what founders are looking for in new talent (TC+)
As previously mentioned, layoffs continue to spread across the crypto job market amid macroeconomic volatility and bearish market sentiment, but there are still plenty of startups looking to hire new talent. “Now is the perfect time to hone your skills and build a product to it,” he said Loytynoja. “The great thing about web3, especially for laid-off individuals, is the many job and contribution opportunities available that will help them build their expertise and gain exposure within the organization they want to join.”
Crypto Recruiters See Opportunities to Steal Talent Amid Big Tech Layoffs (TC+)
Recruiters say big companies putting talent back into their pools is a good opportunity for startups to acquire talent. Zack Skelly, head of people at crypto-focused investment firm Dragonfly, told TechCrunch that startups are looking for candidates who demonstrate a high degree of ownership, initiative, autonomy and accountability. “The not-too-big-not-too-small mindset.” But it’s not an easy time for those looking to pivot to crypto, says Dan, founder of Web3 talent agency Up Top. Escoe told TechCrunch. “I’m not going to sugarcoat it… but anyone who really wants to pursue it should build their own brand,” added Eskow.
Web3 games need to focus on sustainable economy, says Immutable co-founder (TC+)
The crypto gaming industry is still below its 2021 peak, but it still managed to raise significant venture capital last year. However, looking to the future, the subsector may look outside tokenonomics to grow and sustain over the long term. “We’re less concerned with exploitative primary sales and cash grabs, but more with how people build their long-term economy and where some players are making daily trades in the economy. ,” said co-founder and president Robbie Ferguson. At Immutable, he told TechCrunch.
Injective Launches $150M Ecosystem Fund to Accelerate Adoption of Interoperable Infrastructure and DeFi
Injective, a layer-1 blockchain focused on building financial applications, has launched a $150 million fund ecosystem initiative, platform CEO and co-founder Eric Chen told TechCrunch. . Its new ecosystem fund is backed by previous investors such as Pantera and Jump, as well as other web3 players such as Kraken Ventures, KuCoin Ventures, Delphi Labs, Flow Traders, Gate Labs and IDG Capital. The $150 million is pooled capital from the consortium and will be rolled out over “several years,” Chen said.
DCG Crypto Lending Subsidiary Genesis Files For Chapter 11 Bankruptcy
Genesis Global Trading, a subsidiary of crypto conglomerate Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy in the Southern District of New York (SDNY) court. Genesis Global Holdco and two of its lending operating subsidiaries, Genesis Global Capital and Genesis Asia Pacific, have filed voluntary petitions under SDNY’s bankruptcy law, the press release said. “Other subsidiaries of Genesis and Genesis Global Trading, which are involved in derivatives, physical trading and custody businesses, are not included in the filing and continue their client trading operations,” it added.
latest pod
On this week’s episode, Jacquelyn spoke with Mo Shaikh, co-founder and CEO of Layer 1 blockchain Aptos. Shaikh is a three time founder with over 10 years of experience in financial services, blockchain technology and cryptocurrencies. He also worked on Novi (Facebook’s wallet) Blockchain Strategic Partnership and was also ConsenSys Strategy Director.
Last year was a very big year for Aptos. Amid the bear market, blockchain went public and raised about $400 million. The new Layer 1 was backed by major investors including Andreessen Horowitz, Circle Ventures and his now-defunct FTX Ventures. According to data from CoinMarketCap, his APT, his token, has soared more than 400% year-to-date despite the market’s decline. Aptos plans to focus on making 2023 the year of “intentions,” he said Shaikh.
We also discussed:
- What is a bear market launch?
- builder on blockchain
- Business development plan for 2023
- onboarding people No in space
- The future of interoperability and the multi-chain world
apply Chain reaction upon apple podcast, Spotify Or check out the latest episodes on your favorite pod platform. If you like it, please leave us a review!
follow the money
- QuickNode Raises $60 Million At $800 Million Valuation To Become “The AWS Or Azure Of Blockchain”
- Former FTX US President’s Crypto Trading Infrastructure Startup Architect Raises $5 Million From Coinbase And More
- Spatial Labs Raises $10M to Use Augmented Reality to Create Products and Shopping Experiences
- Blockchain Sharding Startup Calimero Network Closes $8.5M Round
- Asset Reality Raises $4.91 Million to Build Crypto Recovery Solution
This list is compiled with information from Messari and TechCrunch’s own reports.
