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On the other hand they could've been growing much more modestly, and then there wouldn't be any layoffs. Not much different to other IPOing companies, many are doing layoffs now. Crypto has little to do with it.

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People were gainfully employed during that period, and are receiving generous severance by any measure. The alternative is that those people aren’t employed at all, or working in another job that might be just as risky. Crypto has a lot to do with it: The industry itself is known for its volatility, so there’s some expectation that they took up the role with an understanding of the risks to those tenure.

This isn’t a McDonald’s or Walmart hiring unskilled labour at low rates, knowing full well that people are replaceable.

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