Fidelity supported crypto platform reduces personnel due to market printing

Fidelity supported crypto platform reduces personnel due to market printing

OSL, a stock exchange based in Hong Kong for digital assets, reduces about a third of their costs after months of turbulence on the cryptom market.

This also includes staff cuts-although the company did not know how many parts of its workforce were dismissed.

• OSL offers in addition to software solutions for institutional customers, also crypto trade and custody.
• Hugh Madden, CEO of the OSL-Muttergesellschaft BC Technology Group, in a statement on Tuesday that the stock exchange has reduced the costs due to "the current market conditions", which included "HR reduction".
• It is far from the only stock exchange that takes such measures. Nft marketplace OpenSea released 20 % of his employees in July, while cryptocom canceled
• Coinbase made two relapses in this cycle-once in June and again Earlier this month .
• The so-called "crypto winter" raged in the second half of 2022 and led to a break-in of crypto assets prices and several top-class bankruptcies. The collapse of the rival exchange ftx in November was the most prominent, whose failure still sends shock waves through the industry.
• OSL is supported by Fidelity-the asset management giant who has launched numerous products in connection with Bitcoin and Ethereum investments.
• Last year Fidelity launched a product with which its customers can add Bitcoin to their pension accounts, which makes up to 20 % of their portfolio.

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