Switzerland-based crypto exchange ShapeShift has laid off 37 of its employees, reducing the size of its team by a third.
Shapeshift is a Swiss cryptocurrency exchange platform available on both the web and on mobile devices. Eric Voorhees, who is a dedicated supporter of Bitcoin, founded it in 2013. The Shapeshift exchange is unique compared with others, as it does not collect customers’ funds into company accounts and does not require a registration or any of the user’s personal data, making transactions fast and convenient. The company keeps all of the customer’s assets only in case of a failed exchange, in which case there is no refund claiming for 90 days. When this happens, there is no need to replenish a Shapeshift account, just the addresses of the sender and receiver should be noted. Shapeshift operates only with cryptocurrencies, so there are just three types of transactions: BTC to altcoin, altcoin to Bitcoin or altcoin to altcoin.
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