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Binance to hire 2,000 employees even as other crypto exchanges cut jobs

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The world’s biggest crypto exchange is looking to recruit people for both on-site and remote roles, ranging from business, editorial to technology development verticals

The world’s biggest crypto exchange is looking to recruit people for both on-site and remote roles, ranging from business, editorial to technology development verticals

Binance on Wednesday said it plans to hire 2,000 people amid reports of other crypto exchanges letting their employees go.

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“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,” Binance CEO Changpeng Zhao tweeted on Wednesday.

Zhao’s statement comes a day after crypto exchange Coinbase said it is laying off about 18% of its staff, nearly 1,100 employees, citing “economic downturn”.

The world’s biggest crypto exchange is looking to recruit people for both on-site and remote roles, ranging from business, editorial to technology development verticals, according to its website.

Binance clocks nearly $25.51 billion in daily transaction volume in 24-hour, according to data portal Statista. However, the crypto market is in a meltdown with the most popular cryptocurrency falling to an 18-month low of $20,392.69 on Wednesday. Bitcoin touched $67,000 last year, giving many investors the confidence to “buy the dip” as its price fell in the following months.

Other crypto exchanges which decided to lay off employees include BlockFi, which announced it would be cut 20% of its staff , and Crypto.com announced it would let go of 260 people.

In a blog post published on June 14, Coinbase CEO Brian Armstrong admitted that the company had “over-hired” during the crypto bull run in 2021, and the down market needed a “different mindset.” Coinbase further stated that it had reduced less than 10% of its Indian workforce, and that India was still a “strategic priority”.



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