CoinDCX Layoffs
January 2023
CoinDCX announced a layoff affecting 80 employees in January 2023. The company operates in the Crypto sector.
80
Jan 11, 2023
About
Indian cryptocurrency exchange CoinDCX conducted a quiet round of layoffs in December 2022, affecting an estimated 80 to 100 employees, primarily from its marketing, branding, and activation teams. This represents roughly 12-16% of its then 642-person workforce. The move was part of a broader business restructuring and cost-cutting effort, mirroring industry-wide challenges as crypto exchanges globally face difficult market conditions and regulatory hurdles. While the company publicly framed the changes as an internal reshuffle and hiring for new roles, sources described it as silent layoffs where employees were asked to resign with a month's severance pay. This followed a period of aggressive hiring by CoinDCX and coincided with major layoffs at its investor, Coinbase.
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