KuCoin CEO Denies Rumors of Massive Layoffs

The crypto exchange KuCoin denied the rumor that it had joined some competitors in massively trimming staff size amid weakened market conditions. Instead, the CEO Johnny Lyu revealed his company will keep hiring in the coming months. In the wake of exchange giants such as Coinbase, CryptoCom, and Bybit imposing a significant cut on headcounts as the bear market has caused a reduction in trading volume, thus affecting exchanges’ primary source of revenue, a new eye-cataching rumor has gone rampant, with KuCoin following a similar path.