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OUR COMPANY IS MADE ON THE BASIS OF OUR LONG-TERM BUSINESS STRATEGY BITSO LAID OFF 80 EMPLOYEE

OUR COMPANY IS MADE ON THE BASIS OF OUR LONG-TERM BUSINESS STRATEGY BITSO LAID OFF 80 EMPLOYEE

"Our decisions about the people who work for our company are based on our long-term business strategy and support for our customers and our strategies as a company," Bitso said in a statement.


Bitso, who had more than 700 employees before the retrenchment, lists more than 60 vacancies on his job page.


In its statement, the company mentioned the need to rethink the skills it needs for employees to move faster in the crypto industry as reasons for mitigation. It did not mention the difficulty of raising money.


Bitso's retrenchment comes two days after Argentina's crypto-currency Buenbit fired 45% of its employees - or about 80 employees - due to a "land reform" technology enterprise, according to its CEO, Federico Ogue.


Bitso has more than four million users in Mexico, Argentina, Colombia and Brazil. The company told CoinDesk in January that it aims to be the largest exchange in Brazil before the end of 2022. In Brazil, Bitso is competing with local crypto exchange Mercado Bitcoin, a leader with over four million customers.


Bitso's latest investment cycle was in May 2021, when it raised $ 250 billion worth $ 2.2 billion, making it the first Latin American unicorn crypto.

Source: yahoo




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