1 year ago
Crypto speech KuCoin denied “any alleged layoff plan,” according to a July 25 email connection to CryptoSlate.
On July 25, Wu Blockchain, citing 3 unnamed interior employees, reported that KuCoin planned to laic disconnected 30% of its workforce. Wu attributed the exchange’s program to a diminution successful profits due to the fact that of the strict Know-your-customer (KYC) argumentation it implemented aft being sued by New York’s Attorney General Letitia James.
However, KuCoin’s CEO, Johnny Lyu, told CryptoSlate that the institution mightiness person immoderate unit adjustments arsenic a portion of its concern improvement and semi-annual worker show review. According to him, this is mean successful immoderate organizational development.
Lyu reiterated these connection successful a tweet, saying:
“We regularly measure our org operation based connected worker show and institution development. So it is not layoffs, and it is each astir making the enactment much dynamic and competitive.”
He added:
“KuCoin is actively embracing regulatory requirements and focusing connected halfway concern development. We volition proceed to summation concern successful our halfway concern to further heighten work prime and idiosyncratic experience.”
KuCoin is 1 of the largest crypto exchanges successful the industry, with 29 cardinal registered users arsenic of June. The level saw $345.19 cardinal successful trading measurement implicit the past 24 hours, according to CoinMarketCap data.
Meanwhile, Binance, the largest crypto speech by trading volume, recently reduced employee benefits pursuing a discreet layoff of thousands of its staff.
The station KuCoin dispels layoff rumors, CEO cites ‘normal’ unit adjustments appeared archetypal connected CryptoSlate.
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