CoinDCX Cuts 12% Staff in Second Layoff Round

Cryptocurrency exchange CoinDCX has laid off 12% of its staff due to a prolonged bear market and the impact of TDS on trading volumes and revenue, as mentioned in a blog post by founders Sumit Gupta and Neeraj Khandelwal. With 722 total employees per LinkedIn, the founders emphasized the need for efficiency amidst challenging macro conditions. They expressed the decision to resize teams as a step towards profitable and sustainable growth for the business.