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Meta Will Begin Laying off Employees

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Today’s Cryptocurrency Headline

Meta CEO Mark Zuckerberg told hundreds of executives on Tuesday that the company would begin laying off workers on Wednesday morning, according to the Wall Street Journal. Zuckerberg blamed himself, saying he was responsible for the company’s missteps and overstaffing. As previously reported, people familiar with the matter said Meta is planning to begin large-scale layoffs this week. The layoffs are expected to affect thousands of employees, and company officials have told employees to cancel nonessential travel starting this week. Meta reported more than 87,000 employees at the end of September. This will be Meta’s first major layoff since its inception.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin’s downtrend isn’t over yet, which means risks remain in the crypto market. But a more optimistic scenario is that the price of Bitcoin has broken through the previous low. History does not simply repeat itself, and market bottoms are usually accompanied by significant events. High – risk insolvency events are likely to lead to stronger regulation. For market participants and exchanges, a cautious investment attitude is needed. In the short term, $18,000 remains the most important psychological line of defense for BTC.

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