In line with a recent report from ‘Financial News,’ Coinfloor which is a London-based digital currency exchange platform established back in the year 2013 is peeling off the majority if its co-workers. Coinfloor is reportedly the oldest crypto exchange within the U.K. and is targeted on institutional and experienced investors. Consistent with CoinMarketCap Index, Coinfloor’s daily volume is around $1 Mln at the reporting time.
Two individuals known to this matter told local news source ‘Financial News’ that Coinfloor is peeling off the larger part of its roughly forty workers. The exchange’s chief operating officer ‘Obi Nwosu’ told that Coinfloor has seen vital amendments in trade volume across the market.”
Adding further ‘Nwosu’ said:
“Coinfloor is presently undergoing a business restructure to target its competitive benefitswithin the marketplace and to best serve its users. As a part of this, we arecreating some staff changes and redundancies.”
‘Nwosu’ told at a native reporting that the exchange has traded $1 Bln in Bitcoin [BTC] within the past twelve months.
Last month, there have been rumours that crypto exchange Kraken was laying off its workers in its unit in Halifax, Canada. However, the exchange afterwards denied the rumors, stating that “we assure that we aren’t thinking of any move to put down any operations in any specific place…”
News and rumors of layoffs within the crypto phase follow a pessimistic market this year. Within the first quarter of 2018, the crypto market fell following the Bitcoin [BTC] slump by nearly 70% from its mid-Dec. 2017 peak of around $20,000 USD.
Even in Jan., the BTC worth dropped to $9,720 USD, that was equivalent to almost half of the 2017 price. In Gregorian calendar month. Later on in feb., BTC was feel even under to $5,920 USD. However, in March, the value broke the $9,000 USD mark once more.
At the reporting time, Bitcoin [BTC] is trading at a price around $6,628 USD, which is up by 0.65% since yesterday.