Business News

Singapore-based crypto exchange ByBit will lay off 30% of its workforce

Bybit, ranked 3rd exchange for derivatives and 8th for spot by CoinMarketCap, announced in an internal company statement preparing to lay off about 30% of its workforce.
Many exchanges have had to reduce their staff due to the market conditions, lower trading volumes, in 2022. A few days ago, Kraken also announced laying off 30% of its workforce, bringing the headcount to the 2021 number according to the exchange, and Coinbase also reduced its headcount earlier this month.
This is the second jobcut happening at the Singapore-bases exchange this year, after it reportedly cut it by 30% in June.

Stay ahead of the game with our Crypto News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.


Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button