Cryptocurrency exchange BitMEX has cut a quarter of its staff, The Block has reported quoting sources familiar with the situation.
According to the publication, the company employs about 300 people, meaning that 75 employees will be cut.
A company representative has said:
“BitMEX is making personnel changes to streamline the next phase of the business. Our main priority is to provide support to all employees who will be affected.”
The company has said they will continue to work as usual.
BitMEX founders Arthur Hayes and Benjamin Delo pleaded in late February guilty to bank secrecy violations and agreed to pay a fine of $10 million each. Hayes and Delo admitted they did not intentionally create or implement an anti-money laundering (AML) system on the trading platform.