{"id":65106,"date":"2022-07-29T19:54:45","date_gmt":"2022-07-29T16:54:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65106"},"modified":"2025-09-06T18:08:38","modified_gmt":"2025-09-06T15:08:38","slug":"coinflex-announces-staff-cuts-to-optimise-costs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinflex-announces-staff-cuts-to-optimise-costs\/","title":{"rendered":"CoinFLEX announces staff cuts to optimise costs"},"content":{"rendered":"

The cryptocurrency derivatives platform CoinFLEX announced layoffs of a \u201csignificant number\u201d of employees across various departments worldwide. \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f<\/a> in the company’s blog.<\/p>\n

\n

\u201cThe staff reductions and non-salary-related cost cuts we have made will reduce expenses by about 50-60%. The majority of the remaining team is focused on products and technologies that remain the core of our business,\u201d CoinFLEX said.<\/p>\n<\/blockquote>\n

Representatives said the platform plans to monitor costs to operate efficiently and scale as volumes return.<\/p>\n

On 24 June 2022, CoinFLEX suspended user withdrawals<\/a> due to \u201cextreme market conditions\u201d and \u201cuncertainty regarding the counterparty.\u201d To address the issues, the company announced<\/a> the launch of the Recovery Value USD (rvUSD) token.<\/p>\n

Later, Chief Executive Mark Lamb said that the mentioned counterparty is Bitcoin.com founder Roger Ver, who owes CoinFLEX $47 million. Since the \u201cBitcoin Jesus\u201d failed to meet his obligations, the company sent him a notice of default<\/a>.<\/p>\n

In July, the firm approached the Hong Kong International Arbitration Centre to recover the debt from Ver<\/a>.<\/p>\n

Back on July 15, CoinFLEX CoinFLEX announced<\/a> the resumption of withdrawals of user funds in a restricted mode.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency derivatives platform CoinFLEX announced layoffs of a \u201csignificant number\u201d of employees across various departments worldwide. This is stated in the company’s blog.<\/p>\n","protected":false},"author":1,"featured_media":65107,"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":[83,2318],"class_list":["post-65106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-coinflex"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65106","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=65106"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65106\/revisions"}],"predecessor-version":[{"id":65108,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65106\/revisions\/65108"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65107"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}