Binance, one of the largest cryptocurrency exchanges in the world, has allegedly initiated a round of layoffs, according to sources who spoke with Chinese reporter Colin Wu, who runs the popular blockchain-focused Twitter account WuBlockchain.
Multiple sources have confirmed to WuBlockchain that the exchange has begun laying off employees, though the proportion of layoffs remains uncertain. With a reported total of around 8,000 employees, rumors suggest that the proportion of layoffs in June was approximately 20%.
Binance In Crisis?
According to Colin Wu, the compensation plan for affected employees will be formulated based on different situations in different locations. However, it is worth noting that some departments are still reportedly continuing to recruit.
Related Reading: Bitcoin 7-Day Hashrate Sets New ATH, Here’s How Difficulty Will Change Next
The exact reasons behind the reported layoffs at…
