The CEO of, Kris Marszalek, announced that the company will be cutting 20% of its global workforce as digital asset markets attempt to recover.

The decision was made as a result of unpredictable events such as the recent collapse of crypto exchange FTX and ongoing economic headwinds.

Despite already making cuts in mid-2022, it wasn’t enough to deal with the unforeseen disintegration of FTX.

The CEO praised patient investors who have maintained conviction during the crypto winter, predicting that they will ultimately reap the rewards.

Despite the workforce reduction, the company will continue to focus on financial management and invest in its platform and product development to provide the best service to its customers.