When Crypto Takes a Dip, Jobs Take a Trip 😎

GM Guys and Gals,

It's been a wild ride in the world of crypto lately, hasn't it? We've seen some massive ups and downs, and unfortunately, Polygon Labs has felt the impact. The company announced that they've had to cut around 100 jobs or 20% of their workforce. Ouch!

Now, we don't want to make light of anyone losing their job - that's a tough situation. But we also can't help but imagine what those layoffs must have been like. "Momentarily, your access to Polygon Labs' systems, including Slack and email will end; the abrupt nature is a necessary security measure," read an email to a laid-off employee. Well, that's one way to make sure they don't steal the office stapler on their way out.

But fear not Polygon fans! Company co-founder Sandeep Nailwal has reassured us that the treasury is still healthy, with a balance of more than $250 million. That's a lot of zeros. And they're looking to drive mass adoption of Web3 by scaling Ethereum. Talk about shooting for the stars!

We have to admit, we're a bit confused by Nailwal's Twitter profile though. He's included the phrase "Top 3 by impact." Is he trying to compete with Binance and Ethereum? Is he ranking himself against other influential people in the crypto world? Or is he just trying to sound like a superhero? We may never know.

In any case, we hope that Polygon Labs can bounce back from these layoffs and continue to make strides in the world of crypto. And who knows, maybe they'll come up with some innovative new ideas during their weekly Community call on Discord. We can't wait to see what they have in store.

As the crypto world continues to evolve, we will keep you updated on all the latest developments. Stay tuned for more updates from Web3shala.

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That’s it for the day, Web3Shala 👋

To the Moon 🚀