Winter is coming here. Coinbase is pulling back on its hiring efforts and rescinding offers, Gemini lays off 10% of its workforce, Bitso let go of 80 employees last week. There’s no doubt of a downturn in the market. What’s difficult to know is how much of these layoffs are an adjustment to overly optimistic / unrealistic blitzscaling by these companies in the past year. Either way, most of the crypto / web3 veterans I’ve talked to see a silver lining in this downturn - there will be less distractions to contend with as people focus on building for long term value.