Crypto Winter Pushes Softbank-Backed 2TM To Cut Over 10% Of Its Workforce

2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.

2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have resulted in a controlling acquisition or a minority stake sale. The talks ended in early May.2TM Participacoes SA, the holding company that owns Brazil's Mercado Bitcoin SA, has dismissed about 90 employees, more than 10% of its workforce, according to people familiar with the matter, who asked not to be named because the number isn't public. In a statement, which did not include the exact number of people affected, 2TM said the measure was necessary because of the macroeconomic climate. The statement cited rising interest rates, inflation, and current global financial conditions. O Estado de S. Paulo, a Brazilian newspaper, first reported 2TM's layoffs. 2TM raised $50 million in November from investors including Tribe Capital and 10T Holdings. Earlier this year, the company had been linked to a potential deal with Coinbase Global Inc. that could have re