• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Crypto Wallet Ledger To Lay Off 10% of Workforce Following Product Issues

Tony Spilotro by Tony Spilotro
3 years ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

The crypto bear market hasn’t been kind to many blockchain or crypto-focused businesses and companies, who have been forced to revisit their strategies, lay off employees, or even close up shop due to lack of funding or interest.

The latest victim of waning interest in the crypto sphere, is hardware wallet manufacturer Ledger, who is reportedly laying off as much as 10% of their workforce. But is the layoff due to the bear market, or have some business-related blunders caused the tech firm to falter?

Ledger Faces Workforce Reductions As Crypto Bear Market Fallout Continues

The crypto bear market of 2018-2019 has been long and brutal, resulting in even the largest crypto firms having to lay off employees, including Bitcoin mining manufacturing giant Bitmain and Ethereum startup incubator ConsenSys. However, the latest entity that is facing extensive layoffs, is France-based cryptocurrency hardware wallet manufacturer Ledger.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Bitcoin and Ethereum Trading Volume Reaches Crypto Bull Run Peak Levels 

According to a report from local French media outlet Presse Citron, the wallet maker behind the popular Ledger Nano S USB-device, is considering laying off as much as 10% of their 200 employees.

During the 2017 bull run, Ledger is said to have shipped and sold over one million units. While Ledger CEO Eric Larchevêque has told investors that recent sales of their hardware devices “are good,” clearly the company is facing some financial issues if a 10% reduction in workforce is being considered.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bear Market Blues, Or Bad Business Moves?

Ledger’s woes may not entirely be the result of the crypto bear market. The firm has recently caused quite a stir in the crypto space, repeatedly disappointing its customers, and for calling out its closest competition in bad taste.

The issues began at the close of last year, when Ledger issued an update to its popular Nano S hardware wallet, that effectively limited the amount of apps that could be installed to just 2 or 3, according to Redditors voicing their distaste in the r/ledgerwallet subreddit. Redditors complained that the update made the Nano S obsolete, forcing users to consider upgrading to the Nano X or be stuck with a lesser experience than they had grown accustomed to.

There, additional complaints can be seen from crypto investors who pre-ordered the firm’s bluetooth-enabled hardware wallet, the Nano X, which was originally slated to begin shipping in March. Ledger experienced production quality issues that resulted in a sub-par batch of initial units, which Ledger was forced to reject, causing a delay.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Due to unexpected production issues at the last minute, we’re deeply sorry to tell you that the Ledger Nano X shipment will be delayed for at least 1 month.

We’re doing all we can to ship them as soon as possible and will keep you posted.

Read more here: https://t.co/9qaalUCaP8 pic.twitter.com/garP2lEPmG

— Ledger (@Ledger) March 21, 2019

Ledger expects replacement units in late April, so the Nano X should begin shipping soon thereafter, barring any additional surprises in production.

Related Reading | Bitcoin Trades For Over $10,000 On Binance Stable Coin Trading Pair

Ledger also received some negative press following claims it made at the MIT Bitcoin Expo regarding potential vulnerabilities in their closet competitor’s hardware wallet, Trezor, which is produced by SatoshiLabs.

Featured image from Shutterstock
Tags: cryptohardware walletLedgerNano SNano X
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

GameFi as a major achievement of the Korean Wave (Hallyu) movement

GameFi as a major achievement of the Korean Wave (Hallyu) movement

1 hour ago
Bitcoin

Quant Explains How Bitcoin NUPL Cycles Are Getting Less Volatile With Time

15 hours ago
Here’s A List of Trusted Non-GamStop Casinos In The UK

Here’s A List of Trusted Non-GamStop Casinos In The UK

20 hours ago
Polkadot

Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing?

1 day ago
Filecoin

Filecoin Cruises Near Resistance, Now Attempts For A Breakout

1 day ago
Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List Remitt USD (USDR) on August 15, 2022

August 15, 2022

QUINT (QUINT) Gets Listed on XT.com

August 15, 2022

Keninah Concord And Fantom, Paired with Baby Doge Coin Will Give You a Well-Balanced Wallet!

August 14, 2022

Can Carlossy Caterpillar Achieve What Meme Coin Giants Dogecoin and Shiba Inu have?

August 14, 2022

To Take DeFi To The Next Level, We Need Killer App, says Ripple Executive. Can Youniverze Be The One?

August 14, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.