Crypto Exchange CoinFLEX Slashes Team Amid CostCutting Push

CoinFLEX’s job cuts come after the firm proposed a plan to compensate depositors and shore up its financial situation as it seeks to recover over $84 million in debt owed by a “large individual customer.” Remaining employees are mostly focused on product and technology, CoinFLEX said in a blog post Friday. “We will monitor costs to ensure we operate as efficiently as possible and scale as volumes come back. The intention is to remain right-sized for any entity considering a potential acquisition of or partnership opportunity with CoinFLEX,”.