- GSR arrests less than 10% of its staff as part of “structural change”.
- The company spokesperson said they are focused on improving overall efficiency and developing negotiation skills.
- GSR trading technology is connected to 60 trading venues which also include DEXs
Crypto Winter has affected the crypto market and investors very roughly. The crypto winter lasted over a year and the entire crypto market was shaken. And now the news is that the market maker has laid off staff because of the crypto winter.
According to reports, GSR has laid off almost less than % of its staff to continue and survive the business during these crypto winters. GSR as a market maker has been waiting for years.
Market Maker GSR Provides Non-Linear Liquidity in Digital Assets to Token Issuers, Institutional Investors, Miners and Principals cryptocurrency Exchanges. GSR trading technology connects 60 trading venues, including the world’s leading decentralized exchanges, DEXs.
According to the sources, the company has reduced its staff by less than 10% as part of a “structural change”. At the same time, the company also mentioned that its GSR site boasted nearly 300 employees globally.
So said one of the company’s spokespersons.
“After a period of rapid expansion, we are focused on improving overall efficiency and continuously developing our technology and business capabilities.”
He also mentioned that market maker GSR was projecting its investment management arms.
Coinbase allowing illegal US customers to trade unregistered securities: reports
Crypto winter also lasted until September. According to reports from Bloomberg, one of the biggest and best-known companies in the crypto market, Coinbase is under the scrutiny of the US Securities and Exchange Commission (SEC). If the reports are to be believed, they say that Coinebase has allowed its US customers to illegally trade unregistered securities in the form of digital assets.
When the reports made headlines, the blog was published under the title “Coinebase does not list securities. End of story” by Paul Grewal, Chief Legal Officer of coinbase. he also said that.
“Coinebase has a rigorous process for analyzing and reviewing each digital asset before making it available on our exchange – a process that the SEC itself has reviewed,” he also wrote that “This process includes an analysis to determine whether the assets can be considered a security and also takes into account the regulatory compliance and information security aspects of the assets.”
Crypto winters destroyed the crypto market from within; be it crypto exchange companies, traders or investors, cryptowinters have left no one behind.