Cryptocurrency exchange OKX has implemented a significant restructuring of its institutional business, resulting in staff reductions and personnel changes. According to multiple reports, the layoffs affected approximately half of the institutional team, with sources indicating that roughly 8-10 staff members were laid off, while an additional 3-4 chose to leave voluntarily. This represents about one-third of OKX's institutional salesforce.
The company has not disclosed the exact number of employees impacted, but a spokesperson denied the reductions constituted "mass layoffs." The spokesperson explained the move is part of a broader review aimed at enhancing long-term client relationships by adopting a more traditional institutional coverage model. The restructuring is designed to better support clients across various regions and market cycles and aligns with OKX's global growth strategy.
The staffing cuts primarily affected teams serving institutional clients, including roles in sales, partnerships, and support. The move reflects a recalibration of priorities as OKX adjusts its operating footprint across regions in response to a more competitive and regulation-heavy environment. The exchange has been expanding its compliance capabilities in several jurisdictions, including the EU, U.S., and UAE, and recently established a new regional headquarters in California.
Alongside the layoffs, Yana Vella, OKX's head of finance, has also departed the company, as confirmed via a LinkedIn post, indicating a shift within the company's leadership. People familiar with the situation stated the staff reductions are not expected to disrupt day-to-day services for existing institutional clients, with trading, custody, and settlement functions remaining operational.
The restructuring underscores a broader industry trend where major crypto platforms are adjusting headcount and reorganizing business units as trading volumes fluctuate and compliance costs rise. OKX's move appears focused on efficiency, reshaping teams to match current demand rather than exiting the institutional segment altogether.
