Article Reading Time:
1 min.
Cryptocurrency derivatives exchangeBitmex abandoned its strategy of promoting spot trading services, as well as brokerage and custody services. In addition, the company cut 30% employees.
The site management announced the refusal“Not only derivatives” strategy, within which the exchange promoted various cryptocurrency services. Now the platform will focus on providing access to derivative products.
“We are abandoning our Beyond strategyDerivatives and will once again focus on providing the best possible crypto derivatives trading experience. We will develop liquidity, reduce order execution delays and support the community of derivatives traders, including the BMEX token,” said a company representative.
He added that one of the undesirable consequences of this paradigm shift was a reduction in the workforce. Bitmex promises to provide all employees affected by layoffs with the necessary support.
Note that Bitmex recently leftCEO Alexander Höptner. His functions will be temporarily performed by the financial director of the exchange, Stephan Lutz. Currently, the site accounts for approximately 2% of the total volume of Bitcoin futures trading.
