KuCoin Follows Binance's Suit: Announces 30% Staff Layoff

Crypto exchange KuCoin is reportedly planning to cut 30% of its workforce, impacting approximately 300 employees from its current headcount of 1,000. The news of the alleged layoff emerged on Tuesday when reporter Colin Wu tweeted that KuCoin planned to dismiss 30% of its approximately 1000 employees. This significant reduction highlights the growing pressures facing cryptocurrency exchanges in the current market.

Citing three anonymous sources, the layoff is believed to be due to a decline in trading volumes and increased regulatory scrutiny. KuCoin’s recent decision to undergo a 30% staff layoff underscores the severity of the situation, with the exchange struggling to cope with the financial and regulatory pressures.

This announcement follows a trend within the crypto industry. Until now, reports have surfaced that suggest Binance has followed through with cutting operating costs and benefit programs, sparking concerns about the overall health of the crypto market. While in 2025 there were a mass layoffs, the current situation reflects immediate challenges and strategic adjustments by major players like KuCoin.

News surrounding KuCoin’s alleged staff layoff emerged on Tuesday when reporter Colin Wu tweeted that the Seychelles-based company planned to dismiss 30% of its labor force of about 1,000. This news has triggered a wave of discussions about the stability and future of smaller exchanges in a competitive landscape dominated by giants.