Bittrex, a U.S. digital currency exchange, will fire 83 workers to survive macroeconomic circumstances.
The employment layoffs were attributed to various digital currency exchange crashes.
After massive industry breakdowns, a internal email from the Bittrex’s leadership highlighted financial issues.
The email blamed global macroeconomic difficulties and a virtual currency market decline caused by the failure of Three Arrows Capital (3AC), FTX, and Celsius.
The ESD’s Worker Adjustment and Retraining Notification state that the terminations will occur on April 2 under regulatory guidelines.
As Bittrex cuts costs, it will have roughly 200 employees.
