Bitget to double its workforce as it plans expansion

The crypto-derivatives exchange Bitget plans to double its staff within the next six months, despite the challenging market conditions. This is stated in a press release.

“As we continue to endure the crypto winter, this will be an excellent opportunity for us to attract talent, strengthen our foundation, prioritise growth, and be ready to welcome the next wave of cryptocurrency adoption when the market regains its strength,” said Gracie Chen, the managing director of the exchange.

At the start of 2021, Bitget’s staff numbered 150. By mid-2022 the team had tripled, and the company planned to hire around 500 employees by the end of the year. The main focus would be on product development and customer service specialists.

Earlier, the decision to continue hiring was announced by Bitfinex and Tether.

Binance CEO Changpeng Zhao called the crypto winter an opportune time to expand the workforce and further develop the business through various acquisitions.

Ripple is following a similar path, which announced the opening of an engineering centre in Toronto and 50 vacancies. The company also announced plans to hire “hundreds of people”.

As reported in June, Crypto.com CEO Kris Marsalek announced plans to lay off around 260 employees. Bybit is also reportedly planning to shrink its workforce.

Workforce optimization was announced by BitMEX, Robinhood, Gemini, Bitso and the parent company of the Brazilian exchange Mercado Bitcoin. The European crypto broker Bitpanda announced layoffs of 730 employees.

Coinbase decided to cut its workforce by about 18%, and the crypto-lending platform BlockFi — by 20%.

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