Thursday, June 20, 2024

Binance is Reportedly Looking to Fill 500 Jobs Globally Despite the Crypto Winter Vibes of Layoffs and Rescinded Offers

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Binance is reportedly looking to fill 500 job vacancies across the world.
This is despite the crypto winter activity of other exchanges laying off employees (Gemini) and rescinding offers (Coinbase).
CoinGecko Co-founder has questioned the handling of financials by the crypto exchanges carrying out layoffs and rescinding offers.

The crypto exchange of Binance is looking to fill over 500 job positions globally.

According to the team at WuBlockchain, the Binance team has issued a statement hinting that they ‘are going to have a very active [job] pipeline in the months ahead.’ WuBlockchain shared the outlook of the job situation at Binance through the following Tweet.

Exchanges led by Coinbase have recently stopped hiring or even laying off staff, but Binance issued a statement saying: We are going to have a very active pipeline in the months ahead, Binance is currently hiring for more than 500 positions globally across all departments.

— Wu Blockchain (@WuBlockchain) June 6, 2022

Binance Has 904 Job Openings, and Binance.US is Also Hiring
Further double-checking WuBlockchain’s claims reveals that Binance currently has over 904 openings on its careers page. This, in turn, points to a scenario whereby an estimate of 500 job openings is an understatement.

Similarly, the North American wing of Binance, Binance.US, advertised via Twitter that they were looking to hire candidates ‘across Business Development, Compliance, Data, Engineering, Finance, Legal, and more.’

Looking for a career move? Want to get involved in #crypto?

Good news. We’re Hiring!

We are currently looking for candidates across Business Development, Compliance, Data, Engineering, Finance, Legal, and more.

Check out our career page to get started:

— Binance.US 🇺🇸 (@BinanceUS) June 3, 2022

Crypto Winter Hits Other Crypto Exchanges Hard
The job openings at Binance and Binance.US come on the backdrop of other crypto exchanges not fairing too well due to the ongoing crypto-winter brought about by the Bitcoin bear market.

Last week, the crypto exchange of Gemini announced that it was going to cut its workforce by 10% due to ‘turbulent market conditions that are likely to persist for some time.’ However, the Winklevoss brothers, who founded the Gemini Exchange, explained that affected employees would receive a separation package and healthcare benefits.

Also, last week, the crypto exchange of Coinbase did a one-eighty degree turn on its promise not to rescind any job offers due to the ongoing hiring freeze at the company. As a result, would-be employees expressed disappointment and frustrations on the life impact of their job offers being canceled. However, the crypto and social media communities have offered advice, referrals, and employment leads to affected individuals.

CoinGecko Co-founder Questions How Crypto Exchanges Handled Their Funds to Result in Layoffs and Rescinded Offers.
The ongoing layoffs and situations of rescinded job offers have prompted CoinGecko’s co-founder, Bobby Ong, the question the management of financials at affected crypto exchanges. He said:

We are just a few months into the bear market and exchanges are making people redundant and rescinding offer letters.

How badly are you guys managing your finances and headcount? You guys are in one of the most profitable sectors of crypto making billions just last year.

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