CoinFLEX Fires More Than 50% of its Employees

Many cryptocurrency exchanges started to lay off employees as part of business optimization amid the dominance of bearish sentiment in the market. In addition, some companies have been forced to cut more than half of the staff in order to reduce costs and concentrate on the most profitable areas.

One of these companies is CoinFLEX, which has announced the resumption of operations with digital currencies, but the withdrawal of funds is still organic. Users can withdraw no more than 10% of their assets.

In addition, the company has announced it expects a 60% reduction in operating costs. As soon as the company’s financial situation improves, it plans to resume hiring again.

CoinFLEX promises to publish an updated business development strategy in the future, taking into account the changed market situation. The team remains optimistic and has encouraged users to be patient.