JUST IN: Indian Crypto Exchange WazirX has laid off 50 to 70 employees from a workforce of around 150, according to people familiar with the matter. By amitoj
Indian exchange WazirX has laid off several employees, the company said in a statement shared with CoinDesk on Saturday.
"The crypto market has been in the grip of a bear market because of the current global economic slowdown," WazirX said in a statement on Saturday."The Indian crypto industry has had its unique problems with respect to taxes, regulations and banking access. This has lead to a dramatic fall in volumes in all Indian crypto exchanges."
One of the sources said"the workforce has been cut from several departments including customer support, HR, and other departments. Managers, Analysts, Associate Managers/Team leaders were among those laid off." The entire public policy and communication team was fired, according to another employee who lost his job.
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