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Seeking Alpha 2022-07-05 19:54:39

Crypto exchange Bullish lays off about 30 staff amid market uncertainty: The Block

Cayman Islands-based crypto exchange Bullish has cut around 30 jobs in an effort to survive the ongoing crypto downturn, a person with knowledge on the matter told The Block on Tuesday. That compares with its headcount of around 390.Still, Bullish, which serves institutional clients, "continues to actively hire for product, engineering and other strategic roles as we continue to evolve our business strategy," a company spokesperson added, as quoted by The Block. The company is joining a growing list of crypto-focused firms that have already taken laid off workers to better manage expenses. For example, Coinbase Global (COIN) in mid-June slashed its workforce by 18%. More recently, embattled crypto lender Celsius Network cut around 25% of its headcount.Previously, (June 13), BlockFi plan to lay off employees as market downturn intensifies.

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