Bitcoin trading platform Bitpanda lays off 250 employees

Global Bitcoin trading platform Bitpanda has laid off 250 employees amid the crypto winter as digital coins crash.

Billionaire entrepreneur Peter Thiel-backed Bitpanda announced that it would be reducing its headcount from nearly 1,000 employees to 730.

The company, valued at $4.1 billion during their last fund raise in August last year, has also rescinded offers they made recently.