KuCoin dispels layoff rumors, CEO cites ‘normal’ personnel adjustments

According to an emailed statement dated July 25, cryptocurrency exchange KuCoin denied “any alleged job cuts plan.” crypto slate.

On July 25, Wu Blockchain, citing three anonymous internal employees, said: report KuCoin said it plans to lay off 30% of its workforce. Wu attributed the exchange’s plans to lower profits due to strict know-your-customer (KYC) policies it introduced after being sued by New York Attorney General Letitia James.

However, KuCoin CEO Johnny Liu said: crypto slate The company may make personnel adjustments as part of its business development and semi-annual employee performance reviews, the people said. According to him, this is normal in organizational development.

Liu repeated these statements in a tweet. saying:

“We regularly evaluate our organizational structure based on the performance of our employees and the development of the company. So this is all about making our organization more dynamic and competitive, not about layoffs.”

he added:

“KuCoin actively embraces regulatory requirements and focuses on core business development. We will continue to increase investment in our core business to further improve service quality and user experience.”

KuCoin is one of the largest cryptocurrency exchanges in the industry, with 29 million cryptocurrency exchanges. registered user As of June. According to CoinMarketCap, the platform’s trading volume in the last 24 hours has reached $345.19 million. data.

Meanwhile, Binance, the largest cryptocurrency exchange by trading volume, recently cut employee benefits following a deliberate layoff of thousands of staff.

After KuCoin dispels rumors of job cuts, CEO cites “normal” personnel adjustments first shown on CryptoSlate.

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