Canada’s largest Bitcoin exchange Coinsquare lays off 40 employees

posted 7 months ago
Toronto-based Coinsquare laid off 40 of its ~150 employees today. Coinsquare Head of Talent Martin Hauck posted a message on his LinkedIn profile regarding the layoffs. “The ever-evolving digital currency/cryptocurrency space has been volatile and unpredictable. Many similar companies in our industry have had to make some tough choices in recent months and Coinsquare has had to as well.”

CEO Cole Diamond said [the decision] “was quite difficult because we let go of a number of talented people. But at the same time, we have to be prudent in the way in which we use resources, and money’s not flowing into our market at the same rate it was in the past. We’ve held on longer than most, but tough decisions have to be made so that we can build a 21st-century financial institution that has a real chance at changing the world.”
Tags: bitcoin, news