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Head of Hong Kong cryptocurrency exchange OSL steps down

CEO Wayne Trench moves to advisory role amid crypto market downturn

HONG KONG -- Hong Kong digital asset exchange OSL said on Friday its chief executive Wayne Trench has stepped down and the company has cut a third of its staff amid a shaken crypto market.

OSL was the first crypto exchange platform to receive a virtual asset trading license from Hong Kong's Securities and Futures Commission in December 2020 and is backed by investment management services provider Fidelity International.

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