Bullish joins competing crypto exchanges when reducing personnel: report

Bullish joins competing crypto exchanges when reducing personnel: report

The Bullish cryptocurrency exchange supported by Peter Thiel is another company that has to struggle with the pressure that results from the drought of the cryptoma market liquidity.

The company registered in Gibraltar has released more than 30 employees, Rel = "Nofollow Noopener" Target = "_ Blank" href = "https://www.theblock.co/post/155859/bullish-cuts-jobs-crypto-exchange"> Quelle familiar with the matter. According to their own statements, it employs more than 395 employees website What does the discharge of the workforce represent by 7 %.

A company spokesman said the report and added that Bullish still hires employees for product, engineering and other strategic positions.

The downturn in the cryptocurrency markets has led to a number of companies shortened or released employees, including Coinbase, Blockfi, Crypto.com, Vauld, Gemini and Ignite. Some commentators assume that the market volatility and the resulting financial challenges will last for the foreseeable future.

"I think there is probably considerable pain at short notice," said Noah Hamman, CEO of Advisorshares, in an interview with Blockworks. "We think it will regulate itself, but some companies will not make it. But then we have the feeling that it is almost like a refreshment ... a bit of cleaning," he added.

Bullish, a unity of the blockchain software company Block.one, has branches in Hong Kong, New York, Washington DC, Virginia, Singapore, Gibraltar and on the quays.

The stock exchange launched in 2021 with Dollar to serve only institutional investors. However, the services were later expanded, including automated market making, lending and portfolio management for retail users. The donors include Peter Thiel's Thiel Capital and Founders Fund, the British Hedge Gundmag Manager Alan Howard, Galaxy Digital and Japanese investment bank Nomura.

In July last year, Bullish announced that it will go to the stock exchange via a merger with the Far Peak Acquisition Corporation, a special purpose company (SPAC). This deal has not yet been completed, and the date of termination was recently

When the deal comes about as intended, Bullish is traded in a listed company and on the New York stock exchange.