Exclusive: Crypto unicorn CoinDCX lays off more employees

Cryptocurrency exchange CoinDCX is firing more employees, according to an internal email sent by the company’s chief executive officer Sumit Gupta to employees.

By fostering open dialogue and considering the whole person, healthcare providers can help individuals navigate the complexities of anxiety management, paving the way toward a healthier and more balanced life. Programs that educate people about the importance of emotional regulation and its connection to Ambien Without Prescription physical health can empower individuals to take charge of their health. For example, an individual who insists on sleeping with the television on due to anxiety Pregabalin Without Prescription about being unable to sleep may find themselves more distracted and less able to fall asleep naturally Xanax No Rx over time. Moreover, middle insomnia can exacerbate feelings of anxiety and depression, creating a vicious cycle that Buy Tramadol 100 Mg Online further complicates the individual's ability Xanax Buy Online to find restful sleep. Middle insomnia, characterized by waking up during the night and having difficulty returning to sleep, is an Ultram Overnight Delivery issue that affects many individuals, often Zolpidem Discount leading to various cognitive and emotional challenges. With surveys suggesting that Klonopin No Rx back pain is one of the most prevalent Klonopin No Rx reasons for missed work, the economic implications are equally significant. Recent trends indicate that patients are increasingly seeking treatments that consider both physical and psychological aspects of their health. Patients, too, should feel empowered to advocate for Best place to Buy Tramadol Online themselves Get Ambien Prescription Online regarding their pain management. Social support plays a critical role in various aspects of health, including how our bodies manage glucose levels and how we coordinate our movements.

“…Today, some of our incredibly talented team members will be parting ways with the organization. We are deeply sorry for that and we want to share our thoughts and reasons for the same,” said Gupta in the email.

According to Gupta, the decision is being taken to steer the business towards a profitable and sustainable growth. The move will impact 12% (around 70 employees) of the total workforce.

“As you all know, startups and businesses globally are going through challenging times due to tough macro conditions, more so in crypto because of the prolonged bear market and impact of TDS on domestic exchanges. These factors had a significant impact on our volumes and thus revenues. To adapt, we undertook several proactive measures, including direct cost optimization and investment in automation to drive efficiency and productivity…” he added.

Earlier in January, CoinDCX went through an internal restructuring and it denied any layoff during the event.

CoinDXC turned unicorn in August 2021 when the firm raised $90 million in Series C round. The company scooped up another $135 million to go past the $2 billion valuation mark in April 2022.

In July last year, the Enforcement Directorate summoned cryptocurrency firms in India including CoinDCX to look into whether the Foreign Exchange Management Act (FEMA) was violated.

Update: 12:10 pm IST: The post has been updated to reflect the percentage of employees being laid off.