Only 14 staffers left at Unocoin as funding talks fail
Cryptocurrency trading platform also cites uncertain regulatory environment for layoffs
About $8.5 million has been infused into the ecosystem so far, with investments in the Indian blockchain ecosystem at less than 0.2% of the global total.
BENGALURU: Bengaluru-based Unocoin, a cryptocurrency trading platform, has given pink slips to half of its remaining employees, in a bid to conserve cash after talks to raise another round of funding failed to take off and as it fights for survival in an uncertain regulatory environment.
The startup, founded in 2013 by Sathvik Viswanath, Harish BV, Abhinand Kaseti and Sunny Ray, scaled down its team to just 14 employees last week from a peak of a little more than 100 people in February ..
Earlier this month, domestic cryptocurrency exchange Coindelta shut, eighteen months after inception, while Zebpay, one of India’s largest crypto exchanges, closed shop in September last year.
Unocoin, which has raised $1.5 million from investors including Blume Ventures and Bitcoin Capital, made news last ..
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