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Mercado Bitcoin, one of the biggest Brazilian cryptocurrency exchanges, has announced a new wave of layoffs amidst a worsening global economic situation for fintech startups, which the exchange states is affecting innovation-based companies. The exchange laid off 15% of its workforce on September 1st, this being the second round of
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Michael Moro, the CEO of crypto broker Genesis has quit as the company cuts 20% of jobs. Source
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Robinhood's job cuts come after the brokerage slashed 9% of its headcount in April to streamline costs and combat the market rout. Source
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Blockchain.com said it would be closing down its Argentina-based offices and canceling team expansion plans in several countries. Some 44% of the impacted employees are in Argentina, 26% in the U.S., 16% in the U.K., and the remaining from the rest of the world, the company said.The reduction brings the
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The company last week extended the deadline to complete its SPAC merger until the end of 2022. Original Source
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The crypto markets are going through a rough phase. Bitcoin has crashed more than 70% in 8 months. Amidst the crash, several companies are laying off their employees, desperately trying to save cash. However, not all companies are facing the hammer of fate. Bit.com, the second-largest crypto options exchange, seeks to
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Unlike exchanges like Coinbase and Gemini, the derivatives platform plans to increase its staff. Source
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Summary: The Bybit crypto exchange is looking to reduce the organization’s size amidst the ongoing crypto winter. Bybit could reduce its workforce by a staggering 20% to 30% as it removes overlapping functions and build smaller agile teams. Affected employees will receive a severance package and access to Bybit’s employee career support in
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"We are exploring a way to remove overlapping functions and build smaller but more agile teams to improve our efficiency," a Bybit spokesperson told CoinDesk. "Starting from this week, some of the functions and roles will be reviewed to ensure we stay focused and agile." Original Source
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