Crypto Exchanges | The Bear Market With Reduction Of Work Force

One of the disadvantages of a prolong bearish market has I can see it is, the reduction of work force which these exchanges has shown to be carrying out.
Well the bearish market can be ideal for onboarding devOps for the development because you will be able to get them at a cheaper and fair price.

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Some weeks ago the CEO of Binance is ain’t really following that path, has he continued to expand he’s work force and it’s exchange across the globe. The recent exchange of whom has cut down it’s workforce is bybit, has the CEO/ co-founder made a tweet about the event on twitter;

“Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing reorganization of the business as we move to refocus our efforts for the deepening bear market.

The planned downsizing will be across the board. We are all saddened by the fact this reorganization will impact many of our dear Bybuddies and some of our oldest friends. I am very grateful for all of their contributions to Bybit over the years, and we will not forget them.

For our impacted colleagues, we will try to make this process as smooth as possible and take care of each individual’s needs as much as we can.”

With this current macroeconomic market condition, so many other exchanges are reducing their workforce with some certain percentages. Exchanges whom has done this are; Coinbase, Karen to mention a few.

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Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

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