According to the U.S. Bureau of Labor Statistics, the unemployment rate in the U.S. sits at 3.6% as of May 2022, and yet the number of large companies downsizing highlights the growing rumors concerning an incoming recession. On June 14, Coinbase’s CEO Brian Armstrong said in a note shared with all Coinbase employees, “We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period.”
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