Despite Coinbase and Crypto.com laying off some of their workers Binance and Ripple are still actively hiring
Despite the onset of the so-called crypto winter, Binance and Ripple look to be bullish about the future, declaring that they will continue to hire. This comes despite the fact that several other crypto exchanges such as Coinbase and Crypto.com have announced layoffs.
Binance, Ripple Still Hiring Workers
In a video, at the Consensus 2022 festival in Texas this weekend, Binance founder and CEO Changpeng Zhao discussed the crypto winter and how Binance is responding to recent market events.
In the video, Binance’s CEO stated:
“We have a very healthy war chest; we, in fact, are expanding hiring right now. If we are in a crypto winter, we will leverage that. We will use that to the max.”
Changpeng Zhao, Binance CEOWhile a number of companies have been cautious in their hiring, Yi He said Binance still has many positions open.
“We currently have more than 2,000 roles open from engineers, product, marketing to business development”.
As reported by Coinscreed, Ripple also claims that it would be able to expand its workforce even during the down market. This comes as a result of the financial reserve the company has obtained.
Binance, Ripple Are Optimistic Crypto Will Succeed
Binance’s co-founder Yi He also told Fortune that the company sees the bear market as a chance for growth:
The crypto space is still in its early stages, and bull markets tend to care more about price while bear markets have more value-conscious teams that continue to build the industry. We see this as a great time to bring on top talent.”
Yi He Ripple CEO Brad Garlinghouse commented as reported by Coinscreed on the current crypto crisis on Twitter, predicting that the market will “shrink” in the near future.
Despite the comments, the executive remains optimistic in the long run. He believes cryptocurrencies will become “an intrinsic part” of the financial system in the future.
“The market is likely going to shrink in the near term, but I and many others have every ounce of confidence that crypto will succeed in the future as an integral part of our global financial systems. Slow and steady wins the race”.
Brad GarlinghouseCoinbase, Crypto.com Lay of 18% and 5% Respectively
Crypto.com founder Kris Marszalek recently announced that the firm will be laying off 5% of its workforce, or 260 people. Marszalek stated on Twitter that the company’s strategy is to “concentrate on executing against our roadmap and optimizing for profitability as we do so.”
Coinbase, the largest cryptocurrency exchange in the United States, plans to terminate up to 1,100 employees. This move will reduce the total number of workers by 18% as reported by Coinscreed. The largest crypto exchange in the United State recently has around 5,000 full-time workers.