Cryptocurrency exchange Vauld cuts workforce by 30%

Cryptocurrency exchange Vauld on Tuesday said it has decided to reduce its headcount by about 30 per cent, as the global crypto market nosedives amid volatile market conditions.

Darshan Bathija, Co-founder and CEO of Vauld platform, said that the workforce reduction impacts every team in the organisation “with a bias towards our marketing and talent acquisition teams”.

“The bias is because we’re slowing down efforts associated with those teams. We are working with each person affected and pay them two months of their salaries as a severance payment and ensure that they retain their signing and/or joining bonus,” Bathija said in a statement.