Over the past few weeks, we’ve been repeatedly hearing of crypto companies and exchanges limiting their staffs as a means of compensating for the dipping prices and the melting space. However, one overseas exchange – Mosdex in Finland –appears to be hiring more people to join its enterprise rather than cutting jobs. Could there be hope for the crypto space after all?
Mosdex Offers a Ray of Hope
Mosdex recently completed a funding round where it obtained $20 million in new money. The company is now preparing to offer a global crypto arbitrage platform. The money will go towards expansion and buying other blockchain-based firms. Thus far, the company has announced plans to open several offices in major metropolitan areas like London, Hong Kong, Tokyo, Dubai, Singapore, and New York.
The CEO of Mosdex – who simply goes by the name “Lodurr” – explained in a recent interview:
This funding round brings us our best balance during this time. It provides us with an opportunity to grow quickly as we continue our focus on product excellence and innovation to meet growing customer needs. We look forward to continuing to be part of the next wave of global crypto adoption.
In addition to expanding its offices, the company will soon begin offering its services to several additional countries in the European Union. Among them are Germany, Poland, Slovakia, Hungary, and the Czech Republic. Lodurr continued with:
We have been building up our international footprint over the last year and are proud that Mosdex is now ready and able to take advantage of the opportunities available within these regions.
A spokesman for the firm also mentioned:
We worked hard to create our own gadgets and improved the richness of the platform. We are constantly updating our utilities to make sure we have purchased the goods and are selling well and accurately.
Mosdex is likely a company that very few traders have ever heard of, but the fact that it’s doing so well at the time of writing offers a ray of sunshine following what has been a very long and turbulent crypto storm. For quite some time, traders have consistently heard about crypto exchanges having to downgrade due to the ongoing pelting of crypto prices.
A String of Layoffs and Firings
Gemini in New York, for example, recently stated that it was going to release roughly ten percent of its workforce. Adding insult to injury was that many of the set layoffs would occur via Zoom calls given the company had closed its physical office in the Empire State.
Joining this trend was Coinbase, which after announcing that 2022 would be the year in which it expanded its staff by three times its initial size, the company was going to also engage in a long list of layoffs to cope with the ongoing crypto bloodbath.