Latin American crypto exchange Bitso laid off 80 members of staff on Thursday, CoinDesk reported.
Bitso had more than 700 employees before the layoffs and still lists more than 60 open jobs on its website, according to the report, which cited a statement from Bitso.
The Gibraltar-registered exchange has more than 4 million users in Latin America, across Mexico, Brazil and Argentina. It officially launched its trading app in Colombia just last week.
The company closed a Series C fundraising round in May 2021 at a valuation of $2.2 billion. Tiger Global and Coatue Management co-led the $250 million round, which finished just a few months after Bitso announced its Series B.
Editor's note: This story was updated with Bitso's comment.