OKX has quietly reshaped its institutional business worldwide, a move that has led to a noticeable reduction in staff as the exchange rethinks how it serves large clients across regions.
People familiar with the situation say the restructuring led to a significant downsizing of the institutional team. One source estimated that roughly half of the unit was affected, while another put the figure closer to eight to ten departures, noting that several employees chose to leave voluntarily once the internal overhaul was announced. In practical terms, this translated into around one-third of OKX’s institutional salesforce exiting the business.
Key takeaways:
OKX reduced headcount within its global institutional business
Sources estimate between eight and ten layoffs, with additional voluntary departures
Roughly one-third of the institutional sales team has exited
The company describes the move as a restructuring, not mass layoffs
OKX has downplayed the scale of the cuts. A company spokesperson said the changes should not be viewed as mass layoffs, without confirming specific numbers. According to the statement, the exchange recently completed a strategic review of its institutional operations and is shifting toward a more traditional coverage model. The goal, the spokesperson said, is to build deeper, longer-term relationships with institutional clients and provide more consistent support across different markets and market cycles.
Global Footprint Under Review
The changes are part of a broader reorganization that goes beyond the institutional desk alone. OKX is reassessing how it deploys its licenses and resources globally, with further organizational adjustments expected in the coming months as it balances growth ambitions with regulatory and operational realities.
The exchange operates through regulated entities in several major jurisdictions. In Europe, OKX runs under the EU’s MiCA framework via Malta and also holds a MiFID II license that allows it to offer derivatives. It is active in select U.S. states, operates in the UAE under Dubai’s VARA regime, and maintains regulated presences in Singapore and Australia. The company also expanded its U.S. footprint last year, setting up a regional headquarters in San Jose, California.
Alongside the team restructuring, OKX has also seen senior-level changes. Yana Vella, the firm’s head of finance, has departed the company, according to a LinkedIn post published recently.
Taken together, the moves suggest OKX is entering a recalibration phase. Rather than chasing rapid expansion, the exchange appears focused on refining its institutional model, aligning staff and leadership with a more mature, regulation-driven stage of the crypto market.
