Cryptocurrency exchange announced on 13 January that it will lay off 20% of its global workforce. The co-founder and CEO Kris Marszalek said the ongoing economic headwinds and unforeseeable industry events were part of the reasons leading to the decision. However, he stressed that the decision was not related to the exchange’s performance and that it was necessary to position the company for long-term success. The exchange cut 5% of its staff in June 2022.