Crypto
Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20% – Exchanges Bitcoin News
Because it reels from the consequences of what it termed a worldwide financial downturn, the Nigerian digital asset trade platform, Quidax, lately mentioned it had laid off staff who constituted 20% of its workforce. Regardless of the layoffs, Quidax reportedly instructed its clients it’s ‘not going wherever, anytime quickly.”
‘No Relationship With FTX’
The Nigerian cryptocurrency trade, Quidax, reportedly claimed that the following world financial downturn had compelled it to let go 20% of the platform’s “exceptionally gifted folks.” The trade insisted the lay-offs weren’t linked to the FTX collapse-fueled turmoil in crypto markets and that Quidax itself had “no relationship with FTX”
Earlier than the worldwide financial downturn, Quidax, which sponsored Nigeria’s largest actuality tv present Huge Brother Naija, had higher prospects. In keeping with a report by Nairametrics, the crypto trade even “made a number of plans and progress projections.”
Severance Packages for Laid-off Employees
Nonetheless, the financial slowdown in China, america, and the Eurozone space meant progress projections needed to be revised downwards, the crypto trade reportedly mentioned. Explaining its determination to put off staff, Quidax reportedly mentioned:
Following the financial downturn all over the world, we have now needed to make some robust choices at Quidax. We needed to say goodbye to twenty% of our exceptionally gifted folks. We deeply worth our folks and it has not been a simple determination to make.
Along with giving the affected staff their severance packages, Quidax mentioned it is going to join them to its “community of firms and founders throughout the fintech house.”
In the meantime, the crypto trade is quoted within the report stating that it’s “not going wherever, anytime quickly.” The trade reassured its clients that their funds aren’t solely protected but in addition insured.
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