Mercado Bitcoin, Brazil’s largest cryptocurrency exchange by trading volume, recently dismissed “at least” 20 staff amid restructuring efforts being made to “focus on professionalisation, higher governance and a lot of agility in client service.”
Local news outlet Portal do Bitcoin reportedly spoke to four currently ex-employees that served at totally different hierarchical levels. One noted it “was horrible” and said that there “were individuals crying” over the occurrence.
The ex-employees revealed that senior executives started obtaining set off earlier this week, on October 15, with different staff being dismissed by an executive the very next day. The company, justifying what was occurring, revealed it was restructuring its selling and human resources departments.
Those interviewed by the native news outlet claimed the affected departments were closed following the layoffs. One said that executives told staff that “it was a company moment, they required to dry out their structure. In short, they went one step over what was being billed.”
The move might apparently have been expected as the ex-employees further claimed the working atmosphere at Mercado Bitcoin was deteriorating. Per their words, regarding two months ago most of what they were doing was obtaining “shelved,” and their work volume kept on decreasing.
“We created processes and shows but everything kept obtaining stuck. Things that we did in an hour, currently started being done in 2 days. Some individuals were extremely idle. I had nothing to do.”
According to their accounts, Mercado Bitcoin dismissed staff it hired from different companies less than six months ago and, in some cases, fired people that had been working there for less than two months.
The move is notable because the cryptocurrency exchange is the largest one in Brazil. According to available information, it traded 4,150 BTC in September, and 1,965 BTC so far this month, which implies it represents over 30 % of the Brazilian market’s volume.
Crypto Exchanges under Scrutiny
Responding to an invitation for comment from Portal do Bitcoin, the cryptocurrency exchange disclosed it has been “promoting changes in its structure” since the start of this year to serve its users better. In October, its reply reads, changes were created to the promoting, HR, and administrative departments, whereas others were left unchanged.
The exchange operator added:
“Regarding financial and personnel data, Mercado Bitcoin does not disclose its information to the market, but clarifies that the number of people who left the company in October is significantly lower than indicated, reaching 20 people only, if we include consultants and other service providers.”
The exchange’s move comes at a time in which XP Investimentos, Brazil’s biggest investment company, is launching its XDEX cryptocurrency exchange. Huobi, the world’s second-largest exchange by trading volume, also expanded into the country earlier this year.
Notably, exchanges in Brazil have been under scrutiny, as back in August the govt. sent them a 14-point questionnaire to find out a lot of about their businesses and their potential use in money laundering. Earlier this month, the country’s antitrust watchdog, CADE, sent them another questionnaire they’ll need to answer or face a fine that may reach $25,000.
** Important : If any body likes my cryptocurrency news and wants to donate BTC then send me as little as you can to my Bitcoin wallet address for running my blog.
This is my Bitcoin wallet address : 3KZSXtJ8ZN6bBzLsyLHAxL5AcCpbdC3XcX
EmoticonEmoticon