2TM, the holding company of Mercado bitcoin, the largest cryptocurrency exchange in Brazil, laid off more than 80 employees this week. Bloomberg first reported this news on June 1. It is reported that about 12% of employees were affected.
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"The changing global financial landscape, rising interest rates and inflation have been having a significant impact on technology-based companies," 2TM said in a statement.
According to their LinkedIn page, Mercado bitcoin has more than 580 employees, while 2TM has more than 80.
As coindesk reported earlier, just one week after Mercado bitcoin's main competitor bitso in Brazil laid off 80 employees, the news of layoffs was spread.
According to the block at that time, in January, 2TM group said that it planned to expand its business to Europe by acquiring scriptoloja, an exchange in Lisbon.