While the news that Binance fired its employees remained warm, another news came from Kucoin.
Chinese journalist Colin Wu announced that Kucoin will cut 30% in employees and start layoffs.
Wu cited 3 insiders as the source.
The strict KYC policy initiated by the stock market after the lawsuit was filed in the USA was cited as the general reason for the dismissals.
Kucoin said that the layoffs are not related to decreased profitability and are related to a normal performance evaluation.
According to Wu, Kucoin currently has 1000 employees. Accordingly, approximately 300 employees will be laid off.