While other crypto exchanges are laying off employees amid volatile market conditions, Binance plans to use the upcoming crypto winter to strengthen its position.
Earlier at the Consensus 2022 conference in Austin, Binance CEO Changpeng Zhao said that if the industry is in for a crypto winter, then Binance will use it to strengthen its position in the market. Now Zhao said the company is expanding staff.
Binance has posted over 2,000 jobs for engineers, marketers, and business development managers. The co-founder of the exchange, He Yi, noted that the crypto industry is still in its infancy and this is a great time to attract talented people.
Recall that earlier exchanges Coinbase, Gemini and Crypto.com reported that they were actively reducing staff in order to maintain profitability and optimize work during a downturn in the markets. Also, a number of large companies in Latin America, including Bitso and Mercado Bitcoin, announced a 20% reduction in staff.
Binance is not the only company that plans to hire more employees. FTX CEO Sam Bankman-Fried said the exchange will continue to move forward and will not stop hiring staff. Ryan Wyatt, the head of Polygon Studios, said the same thing – the company plans to increase its staff by 15% this year.
Earlier, the CEO of the BitMEX cryptocurrency exchange, Arthur Hayes, said that whether bitcoin and ether fall even more will determine whether the crypto winter will come.
