In an attempt to survive, the Dash Core Group will cut top management. The remaining employees will remain without salaries

The software developer for the privacy-oriented cryptocurrency network Dash, the Dash Core Group, was forced to make some difficult financial decisions. So, on March 7, the company will leave 8% of the state, including the strategic director and director of business development. Reported by The Block.

Note that the remaining employees of the Dash Core Group voluntarily refused wages and bonuses to support the existence of the organization.

According to CEO Ryan Taylor, cuts will affect only certain parts of the company in order to avoid complete collapse.

The organization’s leadership claims that more than six months ago a moratorium was imposed on hiring new people, and the spending policy remains conservative.

It is worth adding that Dash is a fork of Litecoin, which appeared in 2014. The company did not conduct an ICO, and the only source of income is 10% of masternod profits. Thus, the bear market has quite significantly affected the stability of the organization.

Recall that in November 2018, the Dash Text service was launched in Venezuela, which allows you to send transactions via mobile phones using text messages. Then the event had a positive effect on the asset quotes.

Subscribe to BlockchainJournal on Facebook !