The Latin American exchange is laying off staff amid a downturn in crypto prices, according to the report.
Bitso had more than 700 employees before the layoffs and still lists more than 60 open jobs on its website, according to the report, which cited a statement from Bitso.
The Gibraltar-registered exchange has more than 4 million users in Latin America, across Mexico, Brazil and Argentina. It officiallya Series C fundraising round in May 2021 at a valuation of $2.2 billion. Tiger Global and Coatue Management co-led the $250 million round, which finished just a few months after Bitso announced its Series B.
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