Bitpanda layoffs — Jun 24, 2022

Bitpanda cuts staff on June 24, 2022 as crypto market downturn pressures exchange

Bitpanda cut staff on June 24, 2022, as the crypto market downturn put pressure on the Peter Thiel-backed trading platform. The company did not disclose how many jobs were affected or what percentage of its workforce was cut.

The layoff was tied to broader market conditions rather than a company-specific operational issue. According to the available source summary, Bitpanda cited the crypto market downturn as the reason for the reduction in staff.

Bitpanda is a cryptocurrency exchange and trading platform that offers users access to digital assets. The company has been one of the better-known European crypto firms and has attracted backing from high-profile investors, including Peter Thiel.

No direct quotes from company officials were included in the source material provided. The company did not disclose further details about the size of the layoff or any additional restructuring plans.

Sources: Google News