{"id":73520,"date":"2023-02-02T19:15:50","date_gmt":"2023-02-02T17:15:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73520"},"modified":"2025-09-09T14:36:53","modified_gmt":"2025-09-09T11:36:53","slug":"bitcoin-exchange-bittrex-to-cut-about-30-of-its-staff","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-exchange-bittrex-to-cut-about-30-of-its-staff\/","title":{"rendered":"Bitcoin exchange Bittrex to cut about 30% of its staff"},"content":{"rendered":"<p>The cryptocurrency exchange Bittrex filed a <a href=\"https:\/\/esd.wa.gov\/about-employees\/WARN\">WARN notice<\/a> with the U.S. Department of Labor regarding layoffs amid unfavourable market conditions.<\/p>\n<p>The move will affect 83 of its 284 employees.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-02-02-v-14.46.17.webp\" alt=\"Snimok-ekrana-2023-02-02-v-14.46.17\" class=\"wp-image-197048\"\/><figcaption>Data: U.S. Department of Labor.<\/figcaption><\/figure>\n<p>A screenshot of a letter from Bittrex co-founder Richie Lai appeared on Twitter. According to him, the market downturn &#8216;toward the end of 2022 turned into a full-blown collapse,&#8217; prompting the company to take such a step.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: Bittrex begins layoffs today citing macroeconomic market conditions. <a href=\"https:\/\/t.co\/8cK2sdcENf\">pic.twitter.com\/8cK2sdcENf<\/a><\/p>\n<p>\u2014 Autism Capital \ud83e\udde9 (@AutismCapital) <a href=\"https:\/\/twitter.com\/AutismCapital\/status\/1620860652431753219?ref_src=twsrc%5Etfw\">February 1, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In October 2022, <span data-descr=\"Office of Foreign Assets Control within the U.S. Department of the Treasury\" class=\"old_tooltip\">OFAC<\/span> and <span data-descr=\"Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury\" class=\"old_tooltip\">FinCEN<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-exchange-bittrex-fined-29-million\">fined Bittrex $29 million<\/a> for repeated violations of sanctions policies and AML procedures.<\/p>\n<p>Earlier, <a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-to-lay-off-nearly-5-of-staff-amid-crypto-winter\">cut nearly 5% of the staff<\/a> were announced by Chainalysis.<\/p>\n<p>Since the start of 2023, <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-to-lay-off-20-of-staff-in-third-round-of-layoffs\">Coinbase<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/consensys-reportedly-plans-to-lay-off-more-than-100-employees\">ConsenSys<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/digital-currency-group-closes-hq-digital-unit\">Genesis Trading<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/blockchain-com-to-cut-a-quarter-of-its-staff\">Blockchain.com<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/gemini-lays-off-10-of-staff-amid-genesis-troubles\">Gemini<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/dcg-backed-luno-to-cut-35-of-staff\">Luno<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/media-reports-layoffs-at-matrixport-owned-by-ji-han-wu\">Matrixport<\/a> have reported layoffs.<\/p>\n<p>In February, PayPal chief Dan Schulman announced a headcount optimisation \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-to-lay-off-about-2000-employees-roughly-7-of-the-workforce\">about 2,000 jobs<\/a> to be cut.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Bittrex filed a WARN notice with the U.S. Department of Labor amid unfavourable market conditions.<\/p>\n","protected":false},"author":1,"featured_media":73521,"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":[720,83,1276],"class_list":["post-73520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bittrex","tag-business","tag-layoffs"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73520","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=73520"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73520\/revisions"}],"predecessor-version":[{"id":73522,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73520\/revisions\/73522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73521"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}