By The Daily Hodl - 1 year ago - Reading Time: 2 minutes
Binance CEO Changpeng Zhao Says Exchange Will Launch Big Hiring Spree During Crypto Bear Market: Report
The world’s largest digital assets exchange is planning a hiring spree as some of its competitors slash jobs during the current crypto market downturn.
According to a new report by Fortune, Changpeng Zhao, CEO of Binance, says that the company has secured the resources to hire more employees as well as focus on acquisitions.
Zhao’s announcement comes at a time when other prominent crypto firms, such as Coinbase, Gemini, Crypto.com, and BlockFi all announced significant layoffs.
“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.”
According to Zhao, Binance is able to people as its challengers struggle because the firm didn’t spend extravagantly on things such as Super Bowl ads and stadium naming rights.
“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.”
Zhao says he expects a lot of companies in the industry to struggle or fail during the bear market, but that the space will ultimately come back stronger than it was.
“While lots of projects and exchanges are going to struggle through the bear market, many will come back stronger than before. Those that fail honestly, will start new projects and bring critical learnings from this experience. This is how an industry grows.
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.”
Check Price ActionDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Raisey
The post Binance CEO Changpeng Zhao Says Exchange Will Launch Big Hiring Spree During Crypto Bear Market: Report appeared first on The Daily Hodl.
Original source: The Daily Hodl