The cryptocurrency derivatives exchange BitMEX will cut its staff by a quarter. This was reported by The Block.
According to the publication, the company currently has 300 employees, so around 75 will be laid off. The management assured the workforce that the platform will continue to operate normally.
One BitMEX source told reporters that former chief executive Arthur Hayes, having left his post after a lawsuit filed by a U.S. regulator, continues to exert influence over the company. In particular, he is involved in cost-cutting and in launches of new products that go beyond cryptocurrency derivatives trading.
In spring 2021, BitMEX’s then-chief Alexander Heptner presented an updated development strategy for the platform, according to which it should become a leading global cryptocurrency exchange. In particular, spot trading and crypto custody services should be introduced on the platform.
Earlier, a BitMEX-affiliated company refused to acquire the German Bankhaus von der Heydt.
Earlier, cofounder Samuel Reed pleaded guilty to violating the Bank Secrecy Act in the United States. Before him, other founders Arthur Hayes and Benjamin Delo admitted to the same.
Subscribe to ForkLog news on Telegram: ForkLog Feed — the full feed of news, ForkLog — the most important news, infographics and opinions.