In line with a recent report from ‘Financial News,’ Coinfloor which isaLondon-based digital currencyexchangeplatformestablished backin the year 2013 is peeling off the majority if its co-workers. Coinfloor is reportedly the oldest crypto exchangewithin theU.K. andis targetedon institutionaland experiencedinvestors.Consistent withCoinMarketCap Index, Coinfloor’s daily volume is around $1 Mln at the reporting time.
Twoindividualsknown tothis matter told local news source ‘Financial News’ that Coinfloor ispeeling offthelarger part ofitsroughlyfortyworkers. The exchange’schief operating officer‘Obi Nwosu’ told that Coinfloor has seenvitalamendmentsin trade volume across the market.”
Adding further ‘Nwosu’ said:
“Coinfloor ispresentlyundergoing a businessrestructuretotarget its competitivebenefitswithin the marketplace and to best serve itsusers. Asa part ofthis,we arecreating some staff changes and redundancies.”
‘Nwosu’ told at anativereporting that the exchange has traded$1 Bln in Bitcoin [BTC]within thepasttwelvemonths.
Last month,there have beenrumours that crypto exchange Kraken waslaying off itsworkersin its unit inHalifax, Canada. However, the exchangeafterwardsdenied the rumors, stating that “weassure that we aren’t thinking of any move to put down any operations in any specific place…”
News and rumors of layoffswithin thecryptophasefollow apessimisticmarket this year.Within thefirst quarterof 2018, the crypto market fell following the Bitcoin [BTC] slump by nearly70%from itsmid-Dec.2017 peak of around $20,000 USD.
Even in Jan., the BTCworthdroppedto $9,720 USD,thatwas equivalent to almost half of the 2017 price. InGregorian calendar month. Later on in feb., BTC wasfeel even under to$5,920 USD. However, in March,the value broke the $9,000 USD markonce more.
At the reporting time, Bitcoin [BTC] istradingat a price around $6,628 USD, which is up by 0.65% since yesterday.