Binance and FTX Continue to Hire Despite Employment Freezes at Crypto Firms
Binance, the world's largest cryptocurrency trading platform by volume, announced that it was “expanding hiring right now" amid a hiring freeze at multiple digital asset companies.
The downturn in crypto markets has spooked many virtual asset firms, triggering a wave of high-profile firings, layoffs, and staff reductions at the globe's leading crypto firms, including Coinbase, Gemini, and Crypto.com. These crypto exchanges join other virtual asset lending platforms like BlockFi and Bitso and Mercado Bitcoin in Latin America in culling their staff.
Crypto.com's CEO Kris Marszalek used Twitter to fire 5% of its staff — or 260 employees — this week as digital assets continue to take a beating.
Many CEOs cite the looming recession as a culprit behind their decision to lay off staff, with many executives particularly concerned about the crash of stock market prices and the price of the world's second-largest cryptocurrency, Ethereum.
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However, Binance has continued to strike a uniquely buoyant tone during this turbulent period, with Binance CEO Changpeng "CZ" Zhao saying, “If we are in a crypto winter, we will leverage that, we will use that to the max" during a recent conference in Texas.
And Binance is not the only one. Sam Bankman-Fried, the CEO of leading crypto exchange FTX told Twitter audiences was still hiring and was still “going to keep pushing forward."
Binance's co-founder Yi He told Fortune that the prominent crypto firm had 2,000 positions available across marketing, product, business development and engineering. “The crypto space is still in its early stages,” He said. Now is “a great time to bring on top talent.”
