.jpg){kind=avatar}
Steemit, the social media platform built around the STEEM digital asset, is reorganizing its structure and downsizing 70% of its workers. The project, one of the many by Dan Larimer, has come under the ire of skeptics due to the large pre-mine and original wallets dumping coins.
{
In a Steemit community announcement, Ned Scott, the CEO and co-founder, outlined its challenges and plans. “Given the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes, we have been forced to layoff close to 70% of the team,” wrote Scott.
unknownx500
More posts by Sean Lippel
Recent posts from News by FinTech Collective