{"id":68717,"date":"2024-01-11T08:48:04","date_gmt":"2024-01-11T12:48:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=68717"},"modified":"2024-01-11T08:51:09","modified_gmt":"2024-01-11T12:51:09","slug":"near-foundation-cuts-40-of-workforce-amid-progress-soars","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/near-foundation-cuts-40-of-workforce-amid-progress-soars\/","title":{"rendered":"NEAR Foundation Cuts 40% of Workforce\u00a0Amid\u00a0Progress Soars"},"content":{"rendered":"\n

The NEAR Foundation, an organization that provides support to maintainers of ecosystems and protocols<\/a>, recently declared a significant reduction in its workforce.<\/p>\n\n\n\n

\"NEAR<\/figure>\n\n\n\n

The NEAR Foundation, a highly esteemed organization that supports ecosystems and protocol maintainers on a global scale, recently made a remarkable reduction in workforce.\u00a0<\/p>\n\n\n\n

This development has sparked considerable speculation throughout the web3 domain.<\/p>\n\n\n\n

In an effort to improve the organization's functionality and efficiency, the NEAR Foundation intends to reduce its workforce by 40%, according to a recent statement released by the firm's community.<\/p>\n\n\n\n

Meanwhile, the organization appears to be reaching unprecedented heights<\/a> throughout the Web3 environment, as stated by the firm.<\/p>\n\n\n\n

Following this, NEAR is currently aiming to enhance its productivity in a way that fundamentally transforms the company's standing in the Web3 domain.<\/p>\n\n\n\n

Concurrently, with increasing rumors revolving around the announcement, the price of NEAR experienced a phenomenal surge, attracting considerable international attention.<\/p>\n\n\n\n

An Analysis Of The Announcement<\/h2>\n\n\n\n

Notably, a 40% reduction in the firm's workforce is intended to consolidate the core foundation team, per the foundation's statement.<\/p>\n\n\n\n

In line with this, the organization presently focuses on a more limited and more significant range of endeavors.<\/p>\n\n\n\n

Moreover, according to the statement\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the reduction\u00a0primarily affects 35 foundation team members, who are involved in community affairs, business development, and marketing.<\/p>\n\n\n\n

However, the NEAR protocol engineering team is unaffected.<\/p>\n\n\n\n

In addition, the company also declared its continued dedication to assisting its impacted staff in locating fresh employment opportunities throughout the NEAR ecosystem, Web3 sector, and beyond.<\/p>\n\n\n\n

However, despite the substantial workforce reductions that the company disclosed, it continues to maintain a commendable treasury.<\/p>\n\n\n\n

The company possesses an enormous $70 million in investments and loans, 305 million NEAR (equivalent to more than $1 billion in value), and more than $285 million in fiat currency.<\/p>\n\n\n\n

NEAR Price Increases<\/h2>\n\n\n\n

As of this writing, the NEAR price has increased by an enormous 11.59% in the past 24 hours and is currently trading at $3.66.<\/p>\n\n\n\n

Additionally, this upswing was accompanied by a weekly increase of 0.87% and a monthly increase of 56.73%.<\/p>\n\n\n\n

Furthermore, there was an 11.19% increase in market cap, which culminated in $3.67 billion, and a 43.72% surge in trading volume, which reached $327.09 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The NEAR Foundation, an organization that provides support to maintainers of ecosystems and protocols, recently declared a significant reduction in its workforce. The NEAR Foundation, a highly esteemed organization that supports ecosystems and protocol maintainers on a global scale, recently made a remarkable reduction in workforce.\u00a0 This development has sparked considerable speculation throughout the web3 […]<\/p>\n","protected":false},"author":56,"featured_media":68730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,9619],"tags":[8715,1578,6795],"class_list":["post-68717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-web3-news","tag-near-2","tag-near-protocol","tag-web3-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/Near1200.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=68717"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/68730"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=68717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=68717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=68717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}