Cryptocurrency exchange OKX has laid off a third of its employees.
Cryptus Exchange OK made changes to its institutional business as part of a global restructuring that reportedly resulted in the layoff of about 30% of its staff.
Some people familiar with the situation say that half of the company’s employees have lost their jobs, including financial director Yana Vella.
The crypto exchange itself has not officially commented on how many people were actually laid off. However, a representative OK denied information about large-scale layoffs.
Our team OK «We recently completed a review of our institutional business as we continue to expand globally. As part of this process, we are transitioning to a more traditional institutional outreach model aimed at strengthening long-term client relationships and more effectively supporting their needs across regions and market periods,» he said.
These changes fit into larger plans OK, including a review of licenses in various markets and further organizational changes expected in the near future.
Even despite the layoffs, OK continues to hold a strong position among centralized exchanges. It ranks fourth in 24-hour spot trading volume ($1,53 billion) and second in derivatives trading volume ($21,80 billion), behind only Binance.
