Cryptocurrency exchange Binance “does not plan to lay off staff,” but instead seeks to fill another 500 positions by the end of June, according to a Binance spokesperson.
The comments come despite a surge in crypto layoffs in January most of them at crypto exchanges. A Binance representative said in a statement: “As of today, we are actively hiring for more than 500 roles with the goal of filling them by the end of H1 [...] We are not planning any layoffs.” The spokesperson was responding to Cointelegraph’s request for clarification on March 1 regarding information it had received regarding possible layoffs at the cryptocurrency exchange. The latest reviews seem to completely disprove that speculation.
At the time of writing, Binance lists 463 positions on its job openings page, with positions in business development, communications, customer support, and engineering, among others. In January, Binance CEO Changpeng Zhao said the company plans to go on a hiring spree in 2023, increasing headcount by 15% to 30%, CNBC reported on Jan. 11. Since the beginning of 2023, the company has hired more than 600 people, the spokesperson said.
According to data from CoinGecko, 84.8% of crypto layoffs in January were due to layoffs at crypto exchanges, including Coinbase, Huobi, Blockchain.com, Crypto.com and Luno.
Coinbase announced on Jan. 10 that it would lay off about 950 people, while Crypto.com announced on Jan. 13 that it would lay off about 500 people. With the collapse of crypto exchange FTX and the implementation of zero-fee Bitcoin, Binance is seen by some (such as Arcane) as one of the "winners" of 2022, The deal has resulted in it capturing the vast majority of the market.
On the other hand, exchanges are also under heavy scrutiny. More recently, this has revolved around the alleged shuffling of $1.8 billion in funds, which some have compared to the actions of bankrupt cryptocurrency exchange FTX. Binance CEO Changpeng Zhao responded to the allegations on Twitter, labeling them "FUD" and saying this is standard practice at the exchange.
The year has gotten off to a rough start for those working in the crypto industry, with at least 14 companies and nearly 3,000 jobs lost in January and a smaller 570 layoffs in February.
But the tide may be turning, with the cryptocurrency market cap growing by more than 34% through 2023, according to CoinMarketCap, while others, such as USDC issuer Circle, plan to keep hiring.
