Cuts Staff by 25%, Closes Argentinian Branch
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Cryptocurrency custody provider and exchange has laid off 25% of its workforce, citing market conditions, CNBC reports.

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A spokesperson for the company clarified that the UK-based company fired 150 employees, closed its Argentinian office and froze plans for worldwide expansion. The majority of the layoffs (around 44%) affected employees in Argentina, with 26% in the US and 16% in the UK.'s Smith Sees Long-term Consequences of Market Turmoil

With the layoffs, became the latest bit company on the market to resize its business. Although the company hasn't clarified what exact reason impacted on its team size, earlier reports revealed that was among creditors of the bankrupt hedge fund Three Arrows Capital. As per reports, the crypto wallet provider could have lost $270 million it had previously loaned to the hedge fund.

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