Crypto exchange OKX cuts institutional staff amid global restructuring

Crypto exchange OKX is undergoing a global restructuring that involves a significant overhaul of its institutional business, leading to a reduction of about one-third of its sales team. This decision reflects the intense competition across the industry and aims at making operations more efficient. Observers are keen to understand how this restructuring will impact other departments and its overall business model, particularly concerning the services offered to institutional investors. The staff cuts raise questions about the cost-saving measures and efficiency improvements that OKX intends to implement. As market trends evolve, stakeholders are closely watching how OKX adapts to these changes, with the actions of such major exchanges holding potential implications for the wider crypto market.