Roger Ver Hong Kong city Arrow business Job Roger Ver Hong Kong city Arrow

CoinFLEX announces staff cuts as part of measures to reduce costs by up to 60%

Reading now: 775
cointelegraph.com

Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs.According to a Friday blog post, CoinFLEX said it had cut some staff across “all departments and geographies” as part of measures to reduce the company’s costs by 50% to 60%.

The majority of the remaining team members will focus on product and technology, and the exchange said it would consider scaling as “volume comes back.”“The intention is to remain right-sized for any entity considering a potential acquisition of or partnership opportunity with CoinFLEX,” said the exchange.On Saturday, CoinFLEX halted withdrawals after an unnamed party reportedly failed to meet a $47 million margin call.

Read more on cointelegraph.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA