According to reports, the largest cryptocurrency business in the world, Binance, plans to grow its workforce by 15% to 30% this year amid a slowdown in the tech sector that has led to job cuts at rival cryptocurrency exchange companies.
In 2022, Binance will have about 8,000 employees, according to CEO Changpeng Zhao, who was speaking on Wednesday at the Crypto Finance Conference in Switzerland.
Reports claim the firm will have 10,000 employees worldwide after the latest hiring drive, an increase of 30%.
The crypto market has experienced significant layoffs recently, so this news should give the struggling sector some hope. This week, Coinbase revealed that it would eliminate 950 jobs, or about 20% of its workforce, in order to reduce operating costs.
Earlier, crypto companies including as Kraken and Huobi revealed plans to eliminate staff in 2023.