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French Crypto Firm Coinhouse Cuts 15% of Workforce Amid Reduced Enthusiasm for Web3 and Bear Market

French crypto broker Coinhouse has announced a 15% reduction in its workforce, with 10 employees laid off. The company cited reduced enthusiasm for Web3 and a fragile global economic environment as reasons for the cuts. Coinhouse is one of the first entities to secure registration as a digital asset service provider from the French Financial Markets Authority. The move follows similar layoffs at Ledger and NFT creator Yuga Labs, and comes amid a bear market for cryptocurrencies.

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