Cryptocurrency exchange Crypto.com cuts 20% of employees
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Today, January 13, Singapore-based crypto exchange Crypto.com announced on the reduction of 20% of employees worldwide. This is another cut in this area after the crash of the FTX exchange that occurred in November, which negatively affected the industry as a whole. As Crypto.com CEO Chris Marszalek noted in a statement, the collapse of FTX “materially damaged confidence in the industry.” According to Coindesk, Crypto.com employs, according to various sources, from 3.5 thousand to 4.5 thousand employees, which means that the reduction will affect 700-900 people.
A few days ago, cryptocurrency exchanges Coinbase and Huobi also announced plans to cut 20% of their employees each. According to The Wall Street Journal, another Genesis exchange is on the verge of bankruptcy and has already fired 30% of its employees.
The high-profile bankruptcy of FTX occurred In November. In the United States and other countries, an investigation has begun against the exchange and its founder, Sam Bankman-Fried. He was arrested on charges of defrauding investors, however, later freed secured by $250 million.
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