{"id":69437,"date":"2022-11-02T11:49:49","date_gmt":"2022-11-02T09:49:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69437"},"modified":"2025-09-07T20:03:09","modified_gmt":"2025-09-07T17:03:09","slug":"media-reports-layoffs-at-galaxy-digital-bitmex-and-dcg","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-reports-layoffs-at-galaxy-digital-bitmex-and-dcg\/","title":{"rendered":"Media reports layoffs at Galaxy Digital, BitMEX and DCG."},"content":{"rendered":"<p>Over the past day, reports emerged of 10-30% staff cuts at three major cryptocurrency firms \u2014 Galaxy Digital, BitMEX and Digital Currency Group (DCG).<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">In the last 12 hours of news, three large cryptocurrency companies have laid off their staff: Galaxy Digital plans to lay off 20% of its staff; BitMEX plans to lay off 30% of its staff, and DCG has laid off 10% of its staff.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1587621355591471104?ref_src=twsrc%5Etfw\">November 2, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Bloomberg, Barry Silbert-led DCG, as part of a restructuring, cut 10 employees. The company now has 66 employees, sources said.<\/p>\n<p>The firm also promoted Mark Murphy from Chief Operating Officer to President.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Recently we implemented a number of internal changes to position DCG for the next phase of growth. This included optimising our departments and several promotions within the leadership team,&#8221; said a company spokesperson.<\/p>\n<\/blockquote>\n<p>The crypto derivatives exchange BitMEX laid off 30% of its staff, <a href=\"https:\/\/www.theblock.co\/post\/181814\/crypto-exchange-bitmex-cuts-30-of-workforce-following-ceo-departure-exclusive\">The Block<\/a> reports.<\/p>\n<p>The platform abandoned its Beyond Derivatives expansion strategy, which included promoting spot trading, brokerage and custodial services. This came days after <a href=\"https:\/\/u1f987.com\/en\/news\/alexander-heptner-steps-down-as-bitmex-chief-executive\">the departure of Alexander Heptner from the CEO role<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We are abandoning the Beyond Derivatives strategy and will return the primary focus to trading crypto derivatives,&#8221; said an exchange spokesperson.<\/p>\n<\/blockquote>\n<p>He described the layoffs as &#8220;undesirable consequences&#8221; of the platform&#8217;s policy change.<\/p>\n<p>Earlier, BitMEX had already <a href=\"https:\/\/u1f987.com\/en\/news\/media-bitmex-to-lay-off-a-quarter-of-its-staff\">cut its staff<\/a> by about a quarter after the <a href=\"https:\/\/u1f987.com\/en\/news\/media-bitmex-abandons-takeover-of-bankhaus-von-der-heydt\">deal to acquire<\/a> the German bank Bankhaus von der Heydt was called off.<\/p>\n<p>Earlier, Gemini, Bitso and the parent company of Brazil&#8217;s Mercado Bitcoin announced workforce optimisations during the bear market. Reductions were also announced by Coinbase, Huobi, the crypto lender BlockFi and institutionally oriented platform NYDIG.<\/p>\n<p>By contrast, Fidelity Investments&#8217; cryptocurrency arm said it plans to hire 100 new employees in the next six months.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past day, reports emerged of 10-30% staff cuts at three major cryptocurrency firms\u2014Galaxy Digital, BitMEX and Digital Currency Group (DCG).<\/p>\n","protected":false},"author":1,"featured_media":69438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[788,83,184,770],"class_list":["post-69437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitmex","tag-business","tag-dcg","tag-galaxy-digital"],"aioseo_notices":[],"amp_enabled":true,"views":"96","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69437"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69437\/revisions"}],"predecessor-version":[{"id":69439,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69437\/revisions\/69439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69438"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}