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Home»ADOPTION NEWS»Forkast laid off most of its editorial staff due to merger with CryptoSlam.
ADOPTION NEWS

Forkast laid off most of its editorial staff due to merger with CryptoSlam.

By Crypto FlexsDecember 1, 20232 Mins Read
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Forkast laid off most of its editorial staff due to merger with CryptoSlam.
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Forkast Labs has laid off most of its editorial staff as part of its merger with data provider CryptoSlam, according to multiple sources familiar with the matter.

Forkast.News merged Last January, it joined forces with CryptoSlam to create a “Web3-centric data intelligence and media platform” through a new brand, Forkast Labs. cryptocurrency news siteHowever, it appears that they stopped publishing article and video content last month, with the last article on November 22nd. The current website states, “Forkast.News is now Forkast Labs.”

Multiple sources told The Block that the news site suffered layoffs this year and ultimately decided to cease editorial operations in late November.

“The merger of Forkast and CryptoSlam earlier this year resulted in most editorial operations being consolidated into Forkast Labs,” the company wrote in an internal memo shared with employees last month. “Going forward, we will see even more focus on the data side, and the collective team will focus on launching new data products.”

CryptoSlam, a non-fungible token data tracker, was founded in 2018. $9 million raised In a round led by Animoca Brands in January 2022. Forkast.News is also an Animoca portfolio company. Animoca founder and chairman Yat Siu led the merger, according to Bloomberg. report Published in January.

Forkast.News was founded in 2018 It raised a seed round of $1.7 million. March 2021, Pocastraps released A series of indices including: Forkst 500 NFT Index. We partnered with The Sandbox last June. “Index the metaverse.”

Cryptocurrency news outlet CoinDesk Layoffs 45% These are the words of the editorial staff last August. Sold to BullishThe cryptocurrency exchange, led by former New York Stock Exchange Chairman Tom Farley, struck an all-in cash deal last month.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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