Hong Kong-based Crypto Exchange OSL is Laying Off Employees to Cut Costs
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Hong Kong-based crypto exchange OSL, which is backed by Fidelity International, will cut costs by about a third due to “ongoing turbulence in the crypto industry.”
Hugh Madden, head of parent company BC Technology Group, has explained that the decision has been made in response to “current market conditions” and involves a reduction in headcount. The top manager has not specified the number of employees that will be affected by the decision.
The exchange offers trading and custody services for crypto assets, as well as software solutions for institutional investors.
OSL announced in June last year that it planned to lay off 40 to 60 specialists.
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