Binance CEO: crypto winter is an opportune time to expand the workforce

Crypto winter is an opportune time to hire new staff and to grow the business through various acquisitions. This was stated by Binance CEO Changpeng Zhao at Consensus 2022, reports Bloomberg.

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\”If there is a crypto winter now, we are using it to the maximum,\” said the head of Binance.

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According to him, the exchange is actively hiring and \”gaining momentum in terms of mergers and acquisitions\”.

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Zhao noted that the exchange did not spend large sums on advertising campaigns like those organized by several crypto platforms during the Super Bowl.

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Earlier, Gemini, the bitcoin exchange owned by the Winklevoss brothers, planned to cut staff by 10% due to the downturn in the crypto market and adverse macroeconomic conditions.

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According to media reports, Coinbase began to optimize costs, including pausing headcount expansion, after reporting a net loss of almost $430 million for the first quarter of 2022.

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Crypto.com said it planned to lay off around 5% of all staff.

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Additionally, staff reductions have already been made at Bitso and Robinhood.

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