Uninvolved Bear Market, Binance Will Recruit 15-30 Percent Employee

JAKARTA The largest crypto exchange company in the world of Binance, seems not to be affected by the decline in the crypto market that has occurred in the last few months. The company, led by Changpeng Zhao, reportedly recruited 15 to 30 percent of employees in 2023.

This move goes against a number of other crypto exchange companies that carry out mass layoffs like Coinbase did. Even so, Binance is not the only crypto company that actively recruits employees to expand its reach. blockchain-based payment company, Ripple, also took the same action.

Changpeng Zhao (CZ), CEO of Binance, reportedly told the Crypto Finance Conference at St. Moritz, Switzerland, on January 11 that the exchange will seek to improve its staff and rearrange as they work towards increased efficiency.

The world's largest exchange reportedly wants to resume its recruitment from 2022 as nearly all other crypto companies appear to be downsizing, according to CNBC Arjun Kharpal in the January 11 article.

"We will continue to build, and hopefully we will improve again before the next bullish market," CZ said at the conference.

In 2022, Binance will increase its staff by more than 150 percent, from around 3 thousand employees to around 8 thousand. Adding 30 percent of the additional staff will place Binance on more than 10 thousand employees globally.

CZ also told a conference that exchanges need to be done better to set up before the next bull run. He wants to make sure the company runs as efficiently as possible and can continue its meteoric rise through the industry.

Until now Binance is still the largest crypto exchange company in the world based on its daily trading volume. Binance's daily trading volume penetrated IDR 232 trillion. The exchange platform trades more than 300 cryptocurrencies and has its own BNB governance coin and BinanceUSD (BUSD) stablecoin.