CoinFLEX laid off most of the staff

by in Cryptocurrency News


Amid the dominance of bearish sentiment in the market, many cryptocurrency exchanges began to lay off employees as part of business optimization. Moreover, some companies were forced to cut more than half of their staff to reduce costs and concentrate on the most profitable areas.

At the end of last week, CoinFLEX was added to the list of such bitcoin exchanges. The company announced the resumption of operations with digital currencies, but the withdrawal of funds is still organic. Users can withdraw no more than 10% of their assets.

In addition, the administration spoke about mass layoffs in all its branches. The exchange expects a 60% reduction in operating costs. As soon as the company's financial situation improves, it plans to resume hiring again.

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Very soon, CoinFLEX promises to publish an updated business development strategy, taking into account the changed market situation. The team remains optimistic and encourages users to be patient.

The press release emphasized: "We will monitor our spending to maintain efficient operations as trading volume recovers. The goal is to find a potential partner or buyer for CoinFLEX."