Cryptocurrency Exchange Bittrex Will Fire 30% of its Staff
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Crypto exchange Bittrex has filed a layoff notice with the US Department of Employment amid unfavorable market conditions.
According to the document filed with the department, the decision will affect 83 out of the company’s 284 employees.
According to a screenshot of a letter from Bittrex co-founder Richie Lai, the market downturn “turned into a complete collapse by the end of 2022, which forced the company to take such a step.
The OFAC and FinCEN fined Bittrex last year $29 million for repeated violations of sanctions policy and AML procedures.
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