Fidelity Digital Assets plans to hire 100 staff

The cryptocurrency arm of investment giant Fidelity Investments plans to continue expanding its headcount and hire 100 new employees within six months. This was stated by Fidelity Digital Assets Europe head Chris Tyrer, The Block.

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According to him, the unit currently employs about 500 people.

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“Over the past 12 months, we have been fairly aggressive in hiring, and we have likely doubled the size of our organisation. We probably plan to add another 100 staff within the next three to six months,” Tyrer added.

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He noted that Fidelity Digital Assets has two separate divisions: platform services—from custody to trade execution—and asset management. The new hires will work in the crypto division across several regions and perform various roles, according to a person familiar with the report.

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In November 2019, Fidelity Investments launched an institutional-focused crypto custody unit focused exclusively on Bitcoin.

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In the summer of 2021, the company announced расширение штата примерно на 70% to support digital asset-focused projects.

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In June 2022, Fidelity Digital Assets decided to recruit additional staff in anticipation of growing institutional interest in the industry. The plans also envisaged support for Ethereum.

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Subsequently, the unit said that to provide clients with the ability to buy, sell and transfer the second-largest cryptocurrency by market capitalization.

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As reported, many crypto companies have begun layoffs amid the bear market. The decision to optimise staffing was made at BitMEX, Robinhood, Gemini, Bitso and the parent company of the Brazilian exchange Mercado Bitcoin.

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Coinbase will cut its staff by about 18%, the crypto-lending platform BlockFi by 20%. According to reports, Huobi will lay off 30% of workers, the gaming NFT studio Immutable by more than 20.

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In October, mass layoffs were reported at New York Digital Investment Group.

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