Crypto exchange WazirX Layoff announcement.

CREDIT PEXELS CREDIT PEXELS

Wazirix the Indian No.1 crypto exchange is in the news again.

[{"selector":"#anim-b1892006-59cc-4658-803a-871869fd21c7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.812499744007886%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-549adc20-34bc-4488-95f9-0793d3731890","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] CREDIT PEXELS CREDIT PEXELS

The company said, " As India's number 1 exchange, our priority is to be financially stable and to continue serving the customers".

[{"selector":"#anim-a9cf2630-1a05-402e-b5b3-fd6525df504b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.812499744007886%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f5c98b8b-ebee-400c-980d-c13d5407fcdf","keyframes":{"transform":["translate3d(-117.75701%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-438f8f3a-c2ae-4d4b-a285-cf12063ddfe7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b5d85108-d428-4879-8da1-c7feac84c139","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS

The crypto exchange as per the sources has laid off up to 40 % of its staff".

[{"selector":"#anim-2895ca26-0f6a-45fb-9f61-c3a30e85b7cd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.812499744007886%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-55160082-fa0f-4856-aae0-d22e38516f3a","keyframes":{"transform":["translate3d(110.59190%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-8a1ff164-0e80-4a4b-b021-ec6d089afbf5","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS

45 days' pay would be given to the laid-off workers.

[{"selector":"#anim-2b9bf90a-a87a-4a04-87df-afd36b39394f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.812499744007886%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-5f7089d9-0410-4223-ad37-15a8fa71adf1","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-cbe48d5f-d780-4717-9ac7-da6a2f9f762f","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS

The exchange has a workforce of about 150 employees.

[{"selector":"#anim-58714855-c636-4780-b28b-5d46760d3097 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7ae2f525-cf8c-44f7-8a24-ba5d3423a6e8","keyframes":{"transform":["translate3d(-117.75701%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af14a827-b286-4d61-aeae-809fb6bec38c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9eaf37ed-eea5-42ac-ab96-463cfb693956","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS

The reason is due to the slowdown in the global crypto market and the new taxation and regulations which came into force in 2022.

[{"selector":"#anim-72f9ba10-cad7-4827-bade-0a2bcdb2ead6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-928d4112-a6b3-4e36-9c50-3e17e993d126","keyframes":{"transform":["translate3d(110.59190%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-22b9b718-33c9-476a-93b1-30051dc14aba","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS

With a tumbling economy and negative reaction from global financial markets, the trading volumes in crypto have drastically come down in 2022.

[{"selector":"#anim-e18bb386-f774-4b1f-a873-79fe08cd3bfb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-a8853057-66b5-4774-83e9-edc428f20fba","keyframes":{"transform":["translate3d(-117.75701%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-d860afa2-a20e-4c37-a6bf-7f3d5ed4dd4a","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS

The new taxation and regulations have also caused many scalpers to reduce their trading volumes.

[{"selector":"#anim-cc5c7bf6-ea26-49a5-8070-8971d60834eb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.812499744007886%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-ce396456-4db7-4faa-b910-f82995770147","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] CREDIT PEXELS CREDIT PEXELS

Please share and visit our website with information on jobs in Google, Microsoft and best deals found on amazon

[{"selector":"#anim-484cbf56-a9c1-4a20-9869-0d01d243242f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.812499744007886%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-2b24d786-7b8e-4a50-86ab-1148368de70d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f3ab5f3f-3c57-417d-8fcc-afc333495dbe","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] CREDIT PEXELS CREDIT PEXELS Arrow Learn more