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Crypto Exchange Bitso Continues To Cut Staff

Crypto exchange Bitso let off an unidentified number of staff in a new wave of layoffs, some six months after laying off about 80 people.

According to former employees, over 100 individuals were laid off by Bitso in Mexico and Brazil, according to the Brazilian crypto newspaper Portal do Bitcoin. According to Portal do Bitcoin, the company employed between 500 and 600 employees.

Posts on LinkedIn by fired-off Bitso employees reveal that the crypto exchange laid off much staff.

Bruno Cavalieri, a former growth content writer for the business, wrote on LinkedIn that he was among dozens laid off.

Bitso has made significant cutbacks this year as a result of the crypto market collapse. The exchange took off 80 staff in May, while Mercado Bitcoin parent 2TM let off about 100 individuals in September after laying off more than 80 in June.

Although the number of employees has decreased significantly, recently, the exchange said the number of its customers in Latin America has doubled.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.