Crypto winter : Bittrex platform quietly lays off staff

·03/02/2023
·Laeti Marison (SatoshiBelle)

The American cryptocurrency exchange Bittrex has, in turn, just made layoffs and reduced its teams.

According to an official document, the Seattle-based crypto-exchange, which has not made any announcement on the matter, has laid off 83 people, or about 30% of its workforce.

A Bittrex representative, interviewed by Decrypt, confirmed the layoffs and said they affected “most branches” of the company, without elaborating.

In an email sent to his employees, which was leaked on Twitter on Wednesday, the head of the exchange, Richi Lai, said that the platform was now obliged to reduce its expenses to survive.

The market slowdown triggered by multiple failures in the crypto ecosystem turned into an outright collapse by the end of the year. These events led us to rethink our strategy,” he explained.

In recent months, Bittrex’s larger U.S. rivals, Coinbase and Kraken, have also been downsizing their teams.

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Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.