The oldest British crypto currency exchange reduces the staff due to the fall in trade volumes

The oldest bitcoin exchange Coinfloor UK announced the reduction of staff. Own sources of Financial News reported by the publication that will be dismissed a large part of the approximately 40 employees of the exchange.

Coinfloor was founded in 2013 and is focused on institutional investors. CEO exchange Nwosu Obi (Obi Nwosu) explained that the cuts caused by “significant changes in the volume of trade in the market.” The number of dismissed employees, he did not name.

“Coinfloor is currently pursuing a business restructuring to focus on our competitive advantages in the market and the best way to serve our customers. As part of this restructuring, we produced some personnel changes and layoffs,” said Nwosu.

He said over the past 12 months total trade volume of BTC on the site amounted to $1 billion However, according to CoinMarketCap daily volume of trading on the Coinfloor is now about $600 thousand.

Nwosu not explained the reason for the reduction in trade on the set, it can be as a General drop in the cryptocurrency market since the beginning of the year and competition from stronger players. In March of licensed E-money Management financial supervision of great Britain received a Coinbase — the operator of one of the largest kryptomere in the world. In August, the exchange began to conduct operations in pounds sterling (GBP). According to CoinMarketCap, the daily volume of trades on the platform Coinbase Pro in a pair bitcoin vs GBP already exceeds $2 million.

We will remind that earlier the operator of crypto currency exchange Coinfloor has launched a new project CoinfloorEX to trade futures on digital assets.

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