U.S. Crypto Exchange Bittrex is Laying Off 83 Employees

Seattle-based crypto exchange Bittrex is laying off 83 employees, according to a layoff alert from the U.S. Employment Security Administration.

"A market downturn triggered by multiple events in the crypto ecosystem turned into a complete meltdown towards the end of the year. These events caused us to reshape our strategy. Sadly, this included downsizing our workforce. Today, those affected by the layoffs will receive invitations to meetings with their department heads, who will communicate next steps." In an internal email leaked on Twitter, Bittrex co-founder Richie Lai said.

Previously, Bittrex had been fined $29 million by the U.S. Treasury Department for failing to prevent people from sanctioned areas from using the exchange.

Source

Exchanges

Event

Related News
The U.S. DOJ Charges Against KuCoin and its Founders The U.S. DOJ Charges Against KuCoin and its Founders
BloFin Announces Platinum Sponsor of TOKEN2049 Dubai 2024 BloFin Announces Platinum Sponsor of TOKEN2049 Dubai 2024
Bitget Wallet Appoints Ex-BNB Chain Senior Executive Alvin Kan As COO Bitget Wallet Appoints Ex-BNB Chain Senior Executive Alvin Kan As COO
Crypto Bankruptcy Claims Platform OPNX to Shut Down Crypto Bankruptcy Claims Platform OPNX to Shut Down
Mt. Gox Creditors Start Receiving Repayments, Some Being Paid Twice Mt. Gox Creditors Start Receiving Repayments, Some Being Paid Twice
Latest News More More
2 Days Ago DA Project Avail Confirmed Token Airdrop Plan
2 Days Ago Tether to Launch New Businesses, Tether Data, Tether Finance, Tether Power, and Tether Edu
3 Days Ago Lido Finance Implemented Simple Distributed Validator Technology (DVT)
3 Days Ago Real Opportunity for Runes only Comes After the Initial Hype
3 Days Ago Worldcoin Announced "Human Centric" Blockchain World Chain
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open