Exclusive: UAE\'s Rain Crypto Exchange Mass Fires Employees Amid Crypto Winter
The crypto winter continues to bite, and even the Middle East, a region touted for its crypto adoption, isn\'t immune. Recent reports indicate significant layoffs at Rain Financial Inc., a prominent crypto exchange operating in the UAE and licensed by the Central Bank of Bahrain.
According to sources, Rain, also referred to as Bahraini Crypto Exchange Rain, has laid off dozens of employees, with some reports suggesting the number exceeds 120 employees. This drastic measure comes amidst what the company cites as "prolonged bearish conditions." Indeed, Coinbase-backed Rain Financial Inc. has laid off dozens of its employees during the recent market sluggishness, according to persons with direct knowledge of the matter.
12 de sept. de 2025 So while crypto exchanges flock and grow in the MENA region specifically in Bahrain and the UAE, RAIN crypto exchange has laid off more than 120 employees.
This development contrasts with the general narrative of crypto expansion in the MENA region. 3 de sept. de 2025 Middle East-based cryptocurrency exchange Rain, licensed by the Central Bank of Bahrain and operating in the Gulf states has cut “a lot” of jobs amid the market downturn. While other exchanges establish themselves in Bahrain and the UAE, Rain faces significant challenges.
Rain, A Middle Eastern Crypto Exchange, Layoffs Dozens Of Employees. Bahraini Crypto Exchange Rain Fires 120 Employee. Due to “prolonged bearish conditions”, Rain Financial Inc, one of the few crypto exchanges in MENA, has laid off. The largest crypto exchange in the Middle East is affected by the ongoing market volatility, affecting the operations of crypto companies. Rain decided to notify its employees about the layoffs.
I was looking for an AED on- and off-ramp. After researching I kept away from BitOasis and went with Rain. All good, quick deposit on own account name with them. But here’s the thing. While some users have had positive experiences with Rain\'s AED on- and off-ramp services, the current layoffs raise concerns about the exchange\'s long-term stability.
The layoffs at Rain highlight the challenges faced by crypto exchanges in the current market environment. In an age of layoffs, it’s only natural that such a trend would continue so long as the crypto winter remained in full force. Right now, it appears the latest firm to say goodbye to several members. The Russia and Ukraine war, inflation issues other factors. Read more. The combination of the ongoing Russia-Ukraine war, global inflation, and overall market uncertainty has created a perfect storm for crypto companies.
Stay tuned for more updates on this developing story.