After Coinbase and CryptoCom, Bybit Lays Off Employees Amid Market Pullback

Bybit has joined other crypto companies in reducing their staff following the massive market-wide retracements. Previous such examples included Coinbase, CryptoCom, and BlockFi.Bybit Slashes Off Staff Membersand CryptoCom in reducing its number of employees,reached out to a company’s spokesperson, who confirmed the news without providing an exact number or percentage.

“Upon the arrival of the bear market, companies globally have been affected, with many needing extensive measures to cut costs. Bybit is no exception apart from the fact that we have taken extreme steps to maintain our workforce for as long as possible during this crisis.” “By executing low purchase orders that lead to high sell orders during a lateral price movement, the system ensures profitability each time the sale price exceeds the purchase price, thus eliminating the need for market forecasting.”

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