The South Korean cryptocurrency exchange Bithumb has closed its research center due to deteriorating business conditions and the need to cut costs and improve efficiency

ChainCatcher news, the South Korean cryptocurrency exchange Bithumb will close its research center on June 2, one year after its launch. Bithumb explained that this decision was made due to the recent decline in trading volume, which has led to a deterioration in the company's business.

By closing the research center, Bithumb plans to significantly improve the efficiency of its human resources and reduce costs. It is expected that the manpower and resources dispersed in the research center will be redeployed to organizations focused on business. (Source link)