Plunge in crypto sets stage for Facebook and other tech giants to hire blockchain experts
Plunge in crypto sets stage for Facebook and other tech giants to hire blockchain experts. Facebook recently hired a group from the blockchain start-up Chainspace, which RBC analyst Zachary Schwartzman says was a way to improve the company's crypto expertise. The drop in cryptocurrency prices is meaning job losses for some, but it may carve out an ideal hiring opportunity for tech giants. Some blockchain start-ups, regardless of having talented teams of engineers, haven't been able to prove a use case and are struggling to fund operations as the price of cryptocurrencies nosedives. "Acqui-hiring" gives tech giants a way to quickly get blockchain experts that are already working together to find that use case, according to Satya Bajpai, head of blockchain and Digital Assets Investment Banking at JMP Securities.