Coinbase Lays Off More than 60 Employees

US cryptocurrency exchange Coinbase has laid off more than 60 employees and continues to optimize its staff amid the market downturn, CoinDesk has reported citing a company representative. According to him, the reductions have affected the recruiting and institutional divisions.The source has reported: "These are isolated and targeted actions by two teams to help Coinbase operate as efficiently as possible." The exchange's management announced in June a staff reduction of approximately 18% due to the cryptocurrency winter. According to the company's third-quarter report, the exchange's net losses rose to $545 million compared to the $1.1 billion recorded during the year-earlier period. Transaction fee revenue fell by 44%.