{"id":62390,"date":"2022-06-03T11:34:32","date_gmt":"2022-06-03T08:34:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62390"},"modified":"2025-09-05T17:37:11","modified_gmt":"2025-09-05T14:37:11","slug":"2tm-group-parent-company-of-mercado-bitcoin-cuts-staff","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/2tm-group-parent-company-of-mercado-bitcoin-cuts-staff\/","title":{"rendered":"2TM Group, parent company of Mercado Bitcoin, cuts staff"},"content":{"rendered":"

2TM Group, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, announced staff cuts amid unfavourable global economic conditions. Reports in CoinDesk<\/a>.<\/p>\n

\n

\u201cThe changing global financial landscape, rising interest rates and inflation have had a significant impact on technology companies,\u201d the statement said.<\/p>\n<\/blockquote>\n

The company did not specify how many employees were laid off. Its representatives noted that \u201cthe scenario requires adjustments that go beyond cutting operating expenses.\u201d According to the publication, the number could be 86 positions.<\/p>\n

In December 2021, 2TM Group closed an extended Series B funding round of $50.3 million. Prior to this, the firm raised $200 million<\/a> from SoftBank Latin America Fund, becoming the eighth-largest unicorn<\/span> in the region.<\/p>\n

Earlier Mercado Bitcoin received $37.4 million<\/a> to expand its presence in Latin American markets.<\/p>\n

The Bahrain-based cryptocurrency exchange Rain Financial also announced layoffs, according to Bloomberg<\/a>. According to sources, the layoffs will affect \u201cemployees across several departments\u201d.<\/p>\n

\n

\u201cCryptocurrencies and global markets continue to slow, which, in turn, affects business worldwide. We had to make hard decisions to get through this period of uncertainty,\u201d explained the company\u2019s co-founder Joseph Dal Lago.<\/p>\n<\/blockquote>\n

In 2021, Rain Financial raised $6 million<\/a> following a Series A round and closed a Series B round of $110 million.<\/p>\n

In May 2022, the largest cryptocurrency exchange in Latin America, Bitso trimmed staff<\/a>, citing a reconsideration of the set of competencies required of employees.<\/p>\n

In the same month it emerged that Coinbase paused hiring<\/a> and cut spending on Amazon Web Services as part of a broader cost-cutting effort.<\/p>\n

Coinbase announced<\/a> that it will extend restrictions on headcount growth and will rescind offers for employees who had accepted roles but had not started yet.<\/p>\n

\n

\u201cAlthough we did not make this decision lightly, it is prudent given market conditions,\u201d the statement said.<\/p>\n<\/blockquote>\n<\/div>\n

Layoffs were also reported by online broker Robinhood and the cryptocurrency exchange Gemini<\/a>.<\/p>\n

Subscribe to ForkLog News on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"

2TM Group, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, announced staff cuts amid unfavourable global economic conditions. CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,2283],"class_list":["post-62390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-mercado-bitcoin"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62390"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62390\/revisions"}],"predecessor-version":[{"id":62391,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62390\/revisions\/62391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}