Indian Crypto Exchange WazirX Lays Off Roughly 40% of Its Employees: Sources

“As India’s No 1. exchange, our priority is to be financially stable and to continue serving our customers,” the company said. “To achieve this, we’ve had to reduce our staff to weather the crypto winter. This situation is similar to the trying times the industry faced in 2018; at that time, we doubled down and built our innovative P2P engine. The crypto industry operates in cycles and the bear market is inevitably followed by a spectacular bull market. We will continue to focus on our customer needs and continue to build. We are confident that we will come out stronger when the bull market arrives.”