Bullish bitcoin exchange trims 10% of staff

The Bullish cryptocurrency exchange, tied to the EOS project and Block.one, has laid off nearly 30 employees, about 10% of its staff. The Block reported this, citing sources familiar with the situation.

According to the company’s profile on LinkedIn, 269 professionals are currently employed by the company.

A Bullish spokesman confirmed the layoffs. He added that the company “is actively recruiting staff for product, engineering and other strategic roles as part of executing the strategy”.

Earlier, staff optimizations were also announced by BitMEX, Robinhood, Gemini, Bitso and the parent company of the Brazilian exchange Mercado Bitcoin Mercado Bitcoin.

Coinbase will cut its staff by about 18%, the crypto-lending platform BlockFi — by 20%, and Hong Kong-regulated bitcoin exchange OSL — by around 15%.

In June, Crypto.com CEO Kris Marszalek announced plans to lay off around 260 employees.

According to journalist Colin Wu, Bybit and Huobi also plan to cut staff by 30%.

The Bullish launch took place in November 2021.

Block.one invested $10 billion in the platform. The exchange was also backed by Thiel Capital and Founders Fund, Peter Thiel’s, Galaxy Digital, Nomura, billionaire Alan Howard and others.

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