Turbulence in the cryptocurrency markets continues to affect the entire industry.
As the sector as a whole continues to be negatively impacted by the volatility in the cryptocurrency markets, OSL, a digital asset platform supported by Fidelity Investments, is reducing costs by nearly a third.
OSL is the latest cryptocurrency firm to cut its headcount.
OSL provides software solutions for institutional investors in addition to the trading and storage of digital assets.
In reaction to the state of the market, it was decided to reduce expenses, which included headcount.
OSL is now the newest cryptocurrency company to reduce employment as the market struggles due to asset prices that are still far below their highs at the end of 2021.
The sudden collapse of one of the biggest Sam Bankman-Freed exchanges in November increased the effects of the “crypto cold.”