Crypto exchange Binance has launched a massive hiring spree, bucking the wider industry trend as competitors make job cuts across the board in a weakened market.
Binance has kicked off a major hiring campaign, according to chief executive officer Changpeng «CZ» Zhao in a social media post yesterday, despite increasing volatility and weakening sentiments in the crypto market.
«It was not easy saying no to Super Bowl ads, stadium naming rights, large sponsor deals a few months ago, but we did. Today, we are hiring for 2,000 open positions for #Binance,» Zhao said.
This is in stark contrast with the broader industry which is increasingly shedding staff. Crypto.com and BlockFi have all cut hundreds of jobs while rival exchange Coinbase Global announced earlier this week that it would slash 1,100 jobs – or 18 percent of its workforce.
Since peaking in November 2021 at around $2.9 trillion, the crypto market fallen nearly two-hirds to around $969 billion, according to data from CoinMarketCap. In addition to a challenging macro environment, digital currencies have been hit by various market troubles including the collapse of stablecoin TerraUSD and the recent halt of withdrawals at crypto lender Celsius Network.
