B2C2, a UK-based cryptocurrency market-making firm, was doing multi-million dollar bitcoin deals in 2017 but the crypto bear market almost brought it to the chopping block in 2018.
Sources familiar with the situation told The Block that the firm in recent months was searching for a buyer and laid off a number of employees, including those in business development and sales. It also parted ways with its public-relations firm. The situation for the company, which one source described as “troubled,” is striking considering the firm in 2017 was growing at a breakneck pace. Back then, B2C2 was taking calls for $50 million bitcoin trades.