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The media learned about the reduction in Galaxy Digital, Bitmex and DCG

Posted on December 15, 2022

The media learned about the reduction in Galaxy Digital, Bitmex and DCG

Over the past day, it has become known about the dismissal of 10-30% of personnel in three large cryptocurrency companies-Galaxy Digital, Bitmex and Digital Currency Group (DCG).

According to Bloomberg, DCG Barry Silbert, as part of restructuring, reduced 10 employees. The company’s staff remained 66 employees, the sources of the agency said.

The company also transferred Mark Murphy from the post of chief operating director to the presidency.

“We recently conducted a number of internal changes to position DCG for the next stage of growth. This included the optimization of our departments, as well as several increase in the leading team, ”commented the representative of the company.

In the Cryptobank Galaxy Digital, Mike Novogradz considers the possibility of dismissal up to 20% of the staff, according to Bloomberg.

At the end of the second quarter, the company reported a staff of 375 people around the world. This means that abbreviations Governance tokens can affect 75 posts.

“We always consider the optimal structure and strategy of the team and share plans for the future when they are formed. While the industry continues to face macroeconomic problems, Galaxy is still focused on creating the conditions of institutional acceptance [cryptocurrencies] and increasing long-term shareholders, ”said Galaxy spokesman Michael Vursthorn.

The Bitmex cryptocurrency exchanger has fired 30% of the staff, reports The Block.

The platform has abandoned the strategy for expanding business outside the derivative tools, which included promoting spare trade, brokerage and depository services. This happened a few days after the departure of Alexander Heptner from the post of CEO.

“We abandon the Beyond Derivatives strategy and we will return the main emphasis on cryptoderival trading,” the representative of the exchange said.

He called the dismissal “undesirable consequences” changes in the policy of the platform.

Earlier, BitMex has already reduced the state by about a quarter after refusing to buy a German bank Bankhaus von Der Heydt.

Recall that the state’s optimization against the Bear Market was announced in Gemini, Bitso and the Mercado Bitcoin Brazilian Maternal Company Mercayl company. Coinbase, Huobi, Blockfi cryptotor, and nydig platform oriented on institutions, also announced.

The cryptocurrency division of the Fidelity Investments investment giant, on the contrary, announced plans to hire 100 new employees in the next six months.

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