Bitfinex and Tether say they will not lay off staff

The cryptocurrency exchange Bitfinex and the Tether company do not plan to lay off staff amid adverse market conditions. This is reported by The Block.

COO Claudia Lagorio of Bitfinex, in comments to the publication, said the exchange continues to invest in talent and resources “in a measured and methodical way.”

“We have a number of career opportunities that we are looking to fill, and our hiring plans remain in place,” she said.

A Tether spokesman told The Block that the company is also committed to expanding its workforce. According to him, the issuer of USDT “everything remains as usual.”

“Tether is profitable and will continue to hire for key positions to support the business. We care about our employees and their futures—we did not lay off staff even in past crypto winters, and we never will,” the spokesman said.

According to Lagorio, Bitfinex and Tether currently employ 250 people.

A similar stance is taken by the crypto exchange Binance. Its head Changpeng Zhao called the crypto winter an appropriate time to hire new staff and to grow the business through various acquisitions.

Earlier, BitMEX, Robinhood, Gemini, Bitso and the parent company of the Brazilian exchange Mercado Bitcoin.

Coinbase will cut its headcount by about 18%, and the crypto-lending platform BlockFi — by 20%.

In June, Crypto.com CEO Kris Marszalek said he planned to lay off around 260 employees.

According to some reports, the crypto exchange Bybit plans to trim staff as well.

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