Binance, the world’s largest crypto exchange, announced that it’s reevaluating its workforce amid reports of layoffs and a prolonged bear market.
On Wednesday, independent reporter Colin Wu tweeted that Binance could be laying off as much as 20% of its 8,000-employee workforce. In response, a Binance spokesperson told Fortune in a statement that “this is not a case of rightsizing” but a focus on “whether we have the right talent.”
