Home / Blockchain / At least 340 British cryptocurrency companies or blockchains ceased operations in 2018, notes the results

At least 340 British cryptocurrency companies or blockchains ceased operations in 2018, notes the results

At least 340 cryptocurrency companies or blockchains have been dissolved or liquidated this year in the United Kingdom (United Kingdom), according to reports from British News on December 22nd.

British crypto companies in 2018

British crypto companies in 2018. Source: SkyNews

The aforementioned article also reports that last year the number of companies in this sector that had been liquidated amounted to 139, almost two and a half times less than this year. In addition, 60% of the companies dissolved this year ceased to operate between June and November.

According to the reported data, more than 200 of the now dissolved companies "were incorporated in Companies House in 2017." This year, according to the article, the newly registered cryptic companies grew slower than the number of companies dissolved for the first time.

The data on which Sky News reported that its article was collected by OpenCorporates, a website that shares data on corporate entities and Companies House, the registrar of companies in the United Kingdom.

The current downward movement of the crypto market in 2018 has also put a strain on some of the largest companies in space.

The Chinese mining enclave Bitmain closed its Israeli development center in mid-December, firing 23 employees.

And ConsenSys, a global community created to create and promote blockchain infrastructures and decentralized applications (DApps) closely linked to the Ethereum ecosystem (ETH), has fired a sizable portion of its employees.

As recently reported by Cointelegraph, the number of employees to be fired could be between 50 and 60 percent of the company's total workforce.

However, Joseph Lubin, co-founder of the Ethereum project and founder of Consensys, stressed that the company "remains healthy and is committed to a rebalancing of priorities and activities started about nine months ago".

Also, as highlighted by a recent Cointelegraph analysis – even after the recent collapse – a LinkedIn study put down blockchain developers are in high demand on the platform, becoming one of the fastest growing emerging jobs in the United States.

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