Despite a recent 5 percent personnel cut that affected his team, CryptoCom CEO Kris Marszalek is still optimistic about the company’s future.
The community has been abuzz with rumors about who the next victim of the continuing market crash would be as a result of the recent increase in cryptocurrency trading firms stopping vital services owing to liquidity-related concerns. The CEO of CryptoCom, Kris Marszalek, addressed the most recent allegations made against his exchange on Twitter and clarified that neither withdrawal limitations nor further promotional campaigns regarding deposits were in place.
The CEO dismissed the accusations that the Singapore-based exchange had altered its withdrawals rules and implemented “special deposit discounts,” calling them both fake clickbait.
He asserted that the business is in a good situation, saying it might have been among the top three cryptocurrency exchanges globally this year.
In the same thread, Marszalek disclosed that in times of market decline, the corporation has decided to “optimize unit economics.” Since the exchange underwent a considerable scaling last year, it can now withstand the sharp decline in trading volume and income since, according to the CEO, the current low point is similar to the record-breaking revenue realized in early 2021.
Marszalek’s so-called technique of “optimizing units” may have alluded to his earlier declaration of eliminating 260 people, or 5% of the workforce, which is a common measure used by struggling businesses to reduce costs.
The native token of the exchange, Cronos (CRO), is down more than 80% year to date, similar to the majority of cryptocurrencies in the bear market.
The Polish businessman saw the present downturn as a “cleanup” of the sector to get rid of those failing firms and let the entire sector “emerge stronger” once more.
“The industry will be better off after sub scale companies with broken business models are out. “
