- GSR halts less than 10% of its staff as a part of “Structural change.”
- The company spokesperson said they focus on improving overall efficiency and developing trading capabilities.
- GSR trading technology is connected to 60 trading places which also include DEXs
Crypto Winter has affected the crypto market and the investors very roughly. Crypto winter has been over a year, and the whole crypto market has been shaken. And now the news has been that Market maker has let out staff because of the crypto winter.
According to the reports, GSR has let out almost less than % of its staff to continue and survive the business during these crypto winters. GSR as a market maker has been expecting since nice years.
GSR market maker provides Non-Linear liquidity in digital assets for token issuers, institutional investors, miners, and leading cryptocurrency exchanges. GSR trading technology connects 60 trading places, including the world’s leading decentralized exchanges, DEXs.
According to the sources, the company has cut down less than 10% of staff as a part of “Structural change” at the same time, the company also mentioned that their GSR site had bragged almost 300 employees globally.
One of the spokespersons of the company said that.
“After a period of rapid expansion, our focus is on improving the overall efficiency and continued development of our technology and trading capabilities.”
He also mentioned that the GSR market maker is projecting out its Investment Management arms.
Coinbase allowing illegally US customers to trade unregistered securities: reports
Crypto winter has been through September as well. According to the reports of Bloomberg, one of the largest and most well-known companies in the crypto market, Coinbase has come under the stare of the US securities and exchange commission (SEC). If the reports are to be believed, they say that Coinebase has been allowing its US customers to illegally trade unregistered securities in the form of digital assets.
When the reports were all over the news, the blog was posted titled “Coinebase does not list securities. End of Story” by coinbase’s chief legal officer Paul Grewal . he also said that.
“Coinebase has a rigorous process to analyze and review each digital assets before making it available on our exchange- a process that the SEC itself has reviewed” he also wrote that “This process includes an analysis of whether the assets could be considered to be a security and also considers regulatory compliance and information security aspects of the assets.”
Crypto winters have smashed the crypto market from the inside; be it crypto exchange companies, traders, or investors, the cryptowinters have left no one.
Source: https://www.thecoinrepublic.com/2022/10/23/market-maker-gsr-halts-less-than-10-staff-as-a-part-of-structural-change-amid-crypto-winters/