According to Bloomberg news, Azerbaijan's digital asset exchange rain financial Inc. has laid off more than 100 employees.

The report cited the insider's rule of not disclosing names, and emphasized that the company had communicated with the affected employees. According to informed sources, since rain currently has about 400 employees, the exchange will reduce many employees.

Enterprises encouraged by coinbase cited the continuous price decline in the digital asset sales market. Rain's co-founder and CEO, Joseph dallago, mentioned in a statement that the ups and downs of the field had caused "an unlucky turn."

"The uncertainty in this field makes it difficult to make an appropriate overall planning, which has resulted in the unfortunate changes we have to make today," dalago said.

In addition, this is the second time that rain, one of the largest exchanges in the Middle East and North Africa, has reduced the total number of employees this year. As early as June, the exchange laid off its undisclosed total number of employees.

"As the digital currency and the international market continue to slow down, it has on the contrary seriously affected companies around the world. We should make difficult choices to tide over this period of uncertainty, and we can be sure that our precipitation human capital has been reduced," dalago said at that time.

With the continuous downturn of the sales market, there are more and more jobs in digital asset Enterprises

Rain financial is not the only enterprise to carry out the second round of employee layoffs. Previously, American exchanges Gemini and crypto. Com showed his gate to the second group of employees, indicating that they were cutting costs and laying the foundation for a long-term bear market in the stock market.

In the case of Winklevoss twins with Gemini, the exchange cut its staff by 7% after cutting 10% previously. However, according to the data of cryptopresales, a network resource tracked by ICO, coinbase (NASDAQ Stock Code: coin) still keeps the record of the largest number of layoffs.

The exchange has laid off about 1100 employees so far this year. Bybit, Huobi and crypto. Com tracks coinbase. Digital asset enterprises laid off more than 5000 employees in total, and June was the month with the largest number of layoff themed activities.

With the total market value of digital assets in the world less than US $100 million, far less than the historical maximum of about US $300 million, more digital asset enterprises may submit to the pressure of accounting again.

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