Bitso lays off 80 employees

The largest cryptocurrency exchange in Latin America, Bitso, has laid off 80 employees. CoinDesk reports, citing a statement from the company.

Bitso attributed the staff reduction to “reassessing the mix of competencies required of staff.” Previously, the company employed more than 700 people.

The exchange did not indicate any financial difficulties. In May 2021 the platform raised $250 million at a $2.2 billion valuation.

As of writing, 67 open positions are listed on the company’s website.

Earlier it emerged that Argentina’s Bitcoin exchange Buenbit cut staff by almost 45%. The company cited a “global restructuring” of the tech industry.

Dear community,
Today I come to share news that hurts me a lot. Given a new global context, we are redefining our strategy to become more robust and efficient, and I want to tell you about it in this thread.

— Federico Ogue (@fedeogue) May 23, 2022

Earlier, the online broker Robinhood laid off 9% of its staff amid a 75% drop in its shares after the IPO.

Subsequently, media reported cost-cutting at Coinbase after a weak start to the year.

Subscribe to ForkLog’s channel on YouTube!