• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
Crypto exchange

Crypto Exchange Bybit To Slash 30% Of Its Headcount Due To Crypto Winter Frostbites

Christian Encila
by Christian Encila
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A year ago, when prices were soaring and new all-time highs (ATHs) were often established, the entire crypto exchange and cryptocurrency market scene was vastly different.

As a result of negative macroeconomic developments and a number of high-profile industry bankruptcies, such as Terra and FTX, the so-called crypto winter is now in full throttle.

Dropping trade volumes, Google searches, among other metrics, all point to a change in investor mood, which was perhaps unsurprising. The crypto exchange industry is currently among the hardest hit in these crippling ‘winter’ chills.

Related Reading: ‘Digital Garbage?’ EU Throws $400,000-Metaverse Party That Only Attracted 6 People

Image: Crypto Daily

Crypto Exchange Bybit Cracks Under Pressure

Bybit, a centralized cryptocurrency exchange, has sent pink slips to its workforce as the crypto winter shows no signs of thawing. The action follows the company’s layoffs in June of this year.

Bybit CEO Ben Zhou stated on Sunday that the layoffs are part of an ongoing reorganization of the Singapore-based crypto exchange company, and that the firm’s top priority is to keep business operations running smoothly and client funds secure.

Bitcoin’s inability to surpass $18,000 demonstrates that the crypto winter remains in the public eye, which is detrimental to local companies. In the past 24 hours, crypto markets have gained a meager 1.5 percent. Nonetheless, the general picture remains exceedingly pessimistic.

As a result, cryptocurrency miners and exchanges faced the brunt of the market volatility. Bybit is the most recent company to follow the trend of trading platforms rendering a significant number of their people unemployed.

Zhou has offered his apologies to individuals who may be impacted and explained that the decision was vital to survive the crypto winter.

The Domino Effect? Bybit Feels The Frostbites

In a report, Zhou was reported by Bloomberg as saying that the crypto exchange must have the appropriate structure and resources “to navigate the market downturn and is nimble enough to seize the many opportunities ahead.”

Zhou cited the continuous fall of crypto prices and the troubles of organizations such as bankrupt crypto lender BlockFi and troubled crypto brokerage Genesis as indicators “that we are entering an even colder winter than anticipated from both an industry and market standpoint.”

Bybit, which is ranked among the top 10 cryptocurrency exchanges by both CoinMarketCap and CoinGecko based on volume and confidence in the stated volumes, is not the first cryptocurrency exchange to take such extreme precautions.

CryptoCom and Coinbase were among the first, with sources indicating that CryptoCom laid off several hundred employees. In June, the American multinational Coinbase slashed its headcount by 18%.

Related Reading: Bitcoin Miners May Have Seen The Darkest In Q4 As BTC Rises Past $17,000

Crypto total market cap at $826 billion on the daily chart | Featured image: Intelligent Living, Chart: TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

White House GameStop Tweet Causes WLFI Frenzy as Volume Spikes to $222M: Maxi Doge to Soar Next?

White House GameStop Tweet Causes WLFI Frenzy as Volume Spikes to $222M: Maxi Doge to Soar Next?

27 minutes ago
Οι “φάλαινες” του Ethereum αυξάνουν τις θέσεις τους – Ποιο altcoin μπορεί να εκτοξευθεί σύντομα;

Οι “φάλαινες” του Ethereum αυξάνουν τις θέσεις τους – Ποιο altcoin μπορεί να εκτοξευθεί σύντομα;

1 hour ago
Kraken Token

Το καλύτερο altcoin για αγορά καθώς το Kraken σπάει ρεκόρ με άνοδο 114% σε ένα χρόνο

1 hour ago
Crypto

Crypto Wins Legal Status In India — High Court Calls It ‘Property’

2 hours ago
Western Union Plans Stablecoin Transfers as Crypto Adoption Skyrockets: Why $BEST Is Worth Watching

Western Union Plans Stablecoin Transfers as Crypto Adoption Skyrockets: Why $BEST Is Worth Watching

4 hours ago
Bitcoin Recovers $115K with New US Rate Cut Expectations, Leading Traders Looking for the Best Crypto to Buy.

Bitcoin Recovers $115K with New US Rate Cut Expectations, Leading Traders Looking for the Best Crypto to Buy

5 hours ago

Premium Sponsors

Press Releases

  • Snorter Bot...

    3 days ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    5 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    5 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    5 days ago
  • 挖 1 枚比特幣耗電可供 61...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.