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

2022.07.30 20:53

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.”

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