KuCoin says it’s just a routine efficiency review and dismisses reports that 30% of its workforce will be laid off.

KuCoin refutes rumours that it will reduce its workforce by 30% and says that personnel changes are a result of a semi-annual efficiency review. According to the CEO, Johnny Lyu, evaluations are necessary to maintain competitiveness in the quick-moving cryptocurrency industry. Around 1,000 people are employed by KuCoin, and the number is increasing. According to the most recent data, while many crypto companies reduced employment as a result of falling asset costs, the rate of layoffs within the industry appears to be slowing down.