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US cryptocurrency exchange COINBASE has laid off more than 60 employees and continues to optimize its staff amid the market downturn, CoinDesk has reported citing a company representative.
According to him, the reductions have affected the recruiting and institutional divisions.
The source has reported:
"These are isolated and targeted actions by two teams to help Coinbase operate as efficiently as possible."
The exchange's management announced in June a staff reduction of approximately 18% due to the cryptocurrency winter.
According to the company's third-quarter report, the exchange's net losses rose to $545 million compared to the $1.1 billion recorded during the year-earlier period. Transaction fee revenue fell by 44%.
