Aussie Crypto Operator Lays off 30% of Staff Citing Crypto Winter: Report – CryptoPotato
Banxa is the latest crypto player to dismiss some employees due to the bear market, announcing its team will shrink from 250 people to 150 individuals.
The Australian cryptocurrency operator – Banxa – believes the ongoing bear market will be present for at least another year, which is why the company decided to dismiss almost half of its employees.
“While we have made a number of budget cuts, our employee costs remain too high for us to be able to continue to operate in our current structure … we had hoped to make gradual adjustments to Banxa’s business, but macro conditions accelerated our timeline,” he added.
Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
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