Bybit Will Reduce 30% of Its Staffing

Bybit Will Reduce 30% of Its Staffing

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Mike
Mike

An editor at Coincrop


05 Dec 2022 | 2 min read
13,061 views

B

ybit, a crypto exchange, will be cutting more jobs in an attempt to realign its business goals during this difficult "bear market," as stated by CEO Ben Zhou in a Sunday Twitter post.

Screenshots of a message from Zhou saying the layoffs would affect 30% of staff were floating around Telegram group chats on the same day. A source confirmed the screenshot to CoinDesk.

Bybit is a crypto exchange based in Singapore that was founded in 2018. In terms of derivatives trading, it ranks ninth out of 64 exchanges. Additionally, its normalized trade volume in the spot market puts it at 15th place according to CoinGecko's data from the last 24 hours.


Mike

Mike

An editor at Coincrop
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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.


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