Bitso, Latin America’s largest cryptocurrency exchange, terminated its business relationship with 80 employees. CoinDesk writes about it, citing the statement received from the company.

Bitso explained its staff optimization by “rethinking the required set of employee competencies.” Before that, the company had more than 700 specialists.

The Bitcoin exchange did not indicate the presence of financial difficulties. In May 2021, the platform raised $250 million at a valuation of $2.2 billion.

At the time of writing, the company’s website has 67 open positions.

It was previously known that the Argentine bitcoin exchange Buenbit was down by almost 45%. The company referred to the “global restructuring” of the tech industry.

Recall that online broker Robinhood cut its staff by 9% after the IPO on the backdrop of a 75% collapse in stocks.

The media then reported on cost optimization at Coinbase after a poor start to the year.