Binance Hiring 2,000 Staff While Layoffs Coming in a Crypto Winter

Fazzaco learned that Binance, the world's largest cryptocurrency exchange, is hiring 2,000 staff, according to a Twitter post by its Chief Executive Officer Changpeng Zhao on Wednesday. The job posting follows layoffs at many large crypto companies.

"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," said the CEO on Twitter.

Recently, the crypto market has entered into a cold winter due to the "current macroeconomic and geopolitical turmoil", as those crypto companies that conducted the layoffs noted in its announcement.

In sharp contrast with Binance's move, Coinbase has recently cut 18% staff in response to market downturn. Besides, Gemini has conducted 10% layoffs two weeks earlier. BlockFi, Crypto.com also joined these companies to cut jobs.

According to reports, Bitcoin plummeted to a new 18-month low on Wednesday, which, combined with crypto lender Celsius's decision to freeze withdrawals and transfers, has led to a sharp fall in the digital currency market.