Kraken Vice President: Crypto Space’s Pace Is Picking Up Fast, Presents Staffing Difficulties
Kraken Austin Says That The Crypto Space Is Moving Very Fast Leading To Difficulty In Staffing
There has been a phase of layoffs that have been witnessed on several exchanges; this is the likes of Coinbase, Coinsquare, and Bithumb. Due to the bear market, these exchanges needed to dismiss the support staff. Kraken Austin went ahead to state that with the volatile nature that has been witnessed within the space made the situation difficult for companies to maintain their team.
In the recent trading panel that was at the MCC 2019, a leading Vice President of one of the prominent exchanges stated that some of the traditional market players within the space made a foray of the industry and tried to apply some of the rules that are in the conventional space. But this did not go according to plan as these are two different industries.
As a result, there is only a handful of exchanges which have been able to exhibit the real volume.
When we look at the issues of staffing, he states that no one within the crypto space was able to predict the outcome we all witnessed. Alexander also noted that Bitfinex had been able to produce positive results, but in their own way, they had their shortcomings.
“There is a lot of competition, but it’s very healthy. If you look at the reality though I think this has just kind of been more widely known but there’s very few like legitimate exchanges with legitimate volume out there if you go to coin market cap and scroll down the list of a thousand exchanges, you know literally 990 of them are all bullsh*t. “
The head of Business at Bitstamp, Miha Grcar, went one to comment on the matter and said that the current players would collapse by the second day of operation if they had witnessed the massive load of activity that took place in 2017 Q4. He also said that not many know about Bitcoin; thus, the focus should be on educating the masses.