Cuts Workforce by Nearly 20% said it is cutting its workforce by around 20% as the crypto industry continues to reel from the effects of the ongoing crypto winter.

The firm cited the economic headwinds from the downturn in the crypto market and the FTX implosion as the reason behind the layoffs.

The exchange is the latest crypto firm to announce layoffs after Coinbase cut nearly 20% of its staff. and Consensys also reportedly let go off a portion of their staff.