Seattle-based cryptocurrency exchange Bittrex has announced that it has decided to downsize.
While crypto exchanges are going through economically difficult times, many of the ecosystem players have been laid off. Bittrex was one of the last exchanges to join the firing frenzy.
Bittrex Announces Layoffs
Cryptocurrency exchanges are trying to overcome the problems of the bear market in 2022. While many companies made layoffs during this period, the last dismissal move came from Bittrex, a Seattle-based cryptocurrency exchange.
Since the crypto winter we experienced last year, Bittrex, the US-based cryptocurrency exchange, has sought to reduce costs for many companies. In a statement made by the company, it was announced that some employees were laid off in order to reduce costs.
Seattle-based cryptocurrency exchange Bittrex, which has a workforce of 284 people in total, according to employment data, announced that it has laid off 83 employees for a more sustainable future. Making a statement on the subject, a Bittrex spokesperson stated that many departments will be affected by the company’s dismissal decision. The spokesperson also added that all affected personnel will be given 60 days of continuous pay and additional severance pay.
