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Coinfloor Crypto Exchange To Restructure Its Business

06:32 09/10/2018

The management of the British crypto exchange Coinfloor intends to reduce its staff due to the restructuring, Financial News reports.


According to Obi Nwosu, the general director of the exchange, the Coinfloor team plans to restructure the trading platform to increase its competitiveness in the digital assets market.


During the reorganization, some staff members will be discharged, and the functions of the others will be slightly changed. Nevertheless, the CEO did not specify how many employees would be cut. At the same time, two knowledgeable sources reported that the exchange has about 40 workers, and most of them will be dismissed.


Nwosu believes that, in any business, adjustments and changes in staffing are the general practice in view of the constant changes in market demand. In the current situation, the CEO stressed a significant change in market crypto trading volumes.


The reduction of personnel at enterprises indicates, primarily, the optimization of market activity – reducing the number of employees while increasing the productivity of market activity. Since Coinfloor started its operation in 2013, more than 200 trading platforms have appeared on the crypto market, according to CoinMarketCap.


Nwosu stated that since late 2017, Coinfloor, supported by the former manager of the American conglomerate Goldman Sachs and Credit Suisse, has gained about $1 billion from bitcoin sales.


As previously reported, 30% of the London population showed interest in acquiring cryptocurrency.

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