While other companies are having a laying-off spree and decreasing their workforces, Binance says it will hire more.
Binance CEO Changpeng Zhao (CZ) announced via Twitter that the cryptocurrency exchange platform will hire 2,000 more people to fill newly opened positions due to the firm’s new sponsorships and partnerships.
“Businesses that start in bear markets are the strongest.” –Changpeng Zhao
Despite the ongoing bear market, Binance does not seem to be bothered but CZ expressed they are also affected; yet the firm chose to be optimistic.
He also noted that “even though we have the benefit of experience from previous cycles, we are not immune to this cycle either. We will be doing some deep self-inflection to better prepare for the next bull market.”
Binance job openings can be viewed here.
To further expand their scope of operations, CZ visited Manila and expressed the firm’s desire to procure licenses from the financial regulators in the Philippines. Binance said they would like to acquire the virtual assets service provider (VASP) license and the e-money issuer (EMI) license from the Bangko Sentral ng Pilipinas (BSP). (Read more: CZ: Binance Philippines Plans to Acquire a Crypto Exchange VASP License from the BSP)
Binance is also looking forward to providing scholarships to Filipino students.
While the crypto platform is trying to expand in the Philippines, Infrawatch PH, a public policy think tank in the Philippines has sent a letter to the BSP to suspend and ban Binance from operating in the country without the necessary licenses to do so. (Read more: BSP Urged to Ban Binance For Illegally Operating in the Philippines)
On the other hand, contrary to Binance job openings, cryptocurrency entities Coinbase, Gemini, BlockFi, and Crypto.com decided to let go of employees.
Coinbase CEO Brian Armstrong announced recently that they will reduce their workforce by 18%, which totals to almost 1,100 people affected.
Also this month, Gemini laid off 10% –100 employees– of the employees because the industry is in a “contraction phase” known as “crypto winter”. (Read more: Gemini Will Cut 10% of Staff Because of Bear Market)
BlockFi, a platform for trading and lending cryptocurrency, announced via a blog post that it laid off 20% of its 850 employees — around 170 to 200 people. Crypto.com also laid off around 260 workers, or around 5 percent of its workforce, according to a Twitter thread from its CEO, Kris Marszalek.
This article is published on BitPinas: What Layoffs? What Crypto Winter? Binance is Hiring 2,000 People
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.