BitMEX May Fire a Quarter of its Employees

Crypto derivatives exchange BitMEX reportedly plans to fire a quarter of its staff, The Block has reported.

According to the publication, the exchange currently has 300 employees, which means that if the company’s plans become a reality, around 75 people will lose their jobs. However, despite the significant reduction in the number of employees, BitMEX has assured the platform will continue to operate as normal.

Arthur Hayes, the former CEO of the platform, still has influence on company despite having left his position following a lawsuit with a US regulator. According to sources, he still participates in cost optimization and new product launches.

Alexander Heptner, who is the current head of the company, presented last year an updated platform development strategy that should make the company the world’s leading crypto exchange as, among other things, the trading platform would add spot trading and custodial storage services for crypto assets.