http://www.youtube.com/watch?v=rY0WxgSXdEEhttps://www.axios.com/2023/01/03/wyre-shutdown-crypto-winter<snipit>
Wyre, the crypto payments company once valued at $1.5 billion, has told employees that it is shutting down.
Why it matters: The company is yet another victim of the crypto crash and broad market slump.
Details: “We'll continue to do everything we can, but I want everyone to brace themselves for the fact that we will need to unwind the business over the next couple of weeks,” CEO Ioannis Giannaros wrote in an email to employees, a portion of which was seen by Axios.
One former employee said they have not yet been informed of a severance package and that other workers are concerned that there will be none at all.
On Dec. 31, former employee Michael Staib posted on LinkedIn about getting laid off, writing: "#Wyre won’t continue as a profitable business."
==================================================================================
Seems these news items are appearing weekly. Though I feel sorry for those who got duped, seeing Crypto "Crash and Burn" may be a good thing to help reign in the whacked out Tulip Speculating, Money Grows on Trees nutjobs.
One of the reasons I did great in the '00 crash, is that I totally avoided Big Tech, and when the panic happened, money flowed like a tsunami toward stocks I owned that had tanglbile intrinsic value. If we can avoid an outright economic meltdown, we may be seeing a repeat wiithin a few years.
One of my biggest rules of investing has always been putting money into things people want and need. That rang true to me 40 years, as it does for me now.
