Binance has opened 2,000 positions for hiring, according to Chief Executive Officer Changpeng Zhao, a stark contrast to a wave of employment cuts by companies in the digital currency field.
Binance’s move comes amid high volatility in the cryptocurrency market, as investors flee riskier assets, fearful that rising inflation would compel the US Federal Reserve to quickly hike interest rates, tipping the country into recession.
Zhao said in a tweet:
“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 2000 open positions for #Binance,”
Coinbase Global Inc, a cryptocurrency exchange, announced on Tuesday that it would lay off approximately 1,100 employees, or 18% of its workforce, becoming the latest corporation to brace for a slump in the cryptosphere.
BlockFi and Crypto.com have reportedly cut hundreds of positions, while Meta Platforms and Intel Corp have also slowed hiring.
Bitcoin fell to a fresh 18-month low on Wednesday, bringing smaller tokens down with it and sparking a severe drop in the digital currency market triggered by crypto lender Celsius suspending customer withdrawals.
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