2TM, the holding company of Mercado Bitcoin, Brazil’s largest crypto exchange by market valuation. Announcing the layoffs of more than 80 employees
“Changes in global financial outlook higher interest rates And inflation has had a huge impact on technology-based companies,” 2TM said in a statement. But did not specify the exact number of dismissals. It even published a list of 86 fired employees along with their contacts.
The company also said “The situation requires adjustments in addition to reducing operating costs. This made it necessary to lay off some of our employees as well.”
According to its LinkedIn page, Mercado Bitcoin has over 580 employees, while 2TM has over 80.
2TM’s announcement comes a week after Latin American crypto exchange Bitso, Brazil’s main rival Mercado Bitcoin, laid off 80 employees, citing it as “the most powerful cryptocurrency in the world.” “Long-term business strategy” is the reason.
2TM has become the second unicorn-level crypto startup in Latin America. After raising a total of $250 million in 2021 at a valuation of $2.2 billion.
in january The company has acquired CriptoLoja. It is a Portuguese regulated crypto exchange.
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