Despite the massive crash of the cryptocurrency market since the beginning of the year, some crypto-related companies have continued to embark on hiring sprees to strengthen their operations.Â
While most cryptocurrency companies are reducing their staff strength to cope with declining market conditions, popular trading platform Binance and fintech company Ripple has announced new job openings.
According to an announcement by Changpeng “CZ” Zhao, the CEO and founder of the world’s largest exchange by trade volume, the trading platform will be recruiting 2,000 staff, to join the company to continue building opportunities.
CZ noted that the move was made possible following Binance’s decision to decline the acquisition of Super Bowl ads, stadium naming rights, and other sponsorship deals.
CZ comment was also hit on Coinbase and Cryptocom which were aggressively busy in advertising while Binance saved its capital for tough times.
“It was not easy saying no to Super bowl ads, stadium naming rights, and large sponsor deals a few months ago, but we did. Today, we are hiring for 2000 open positions for #Binance,” CZ said.
It was not easy saying no to Super bowl ads, stadium naming rights, large sponsor deals a few months ago, but we did.
Today, we are hiring for 2000 open positions for #Binance. pic.twitter.com/n24nrUik8O
— CZ ? Binance (@cz_binance) June 15, 2022
Ripple Joins Binance Recruitment SpreeÂ
Similarly, Ripple also followed in Binance’s footsteps a few hours later, announcing that it will be recruiting hundreds of talent across the globe.
Despite its ongoing lawsuit with the Securities and Exchange Commission (SEC), Ripple noted that it is in a strong position to continue growing.
The blockchain company proceeded to schedule a recruiting event by next week with special guest Brad Garlinghouse, the CEO of Ripple.
Meanwhile, Garlinghouse commented on Ripple’s decision to recruit more talent to continue its expansion and growth mission, saying:
“Ripple is hiring for hundreds of roles around the globe – both in person and remote. Fair warning – we have a “no assholes” policy here. If that’s the kind of culture you’re looking for, apply here /ripple.com/careers/.”
Ripple is hiring for hundreds of roles around the globe – both in person and remote. Fair warning – we have a “no assholes” policy here. If that’s the kind of culture you’re looking for, apply here https://t.co/49kPgUOMpR https://t.co/IZl4wskYFp
— Brad Garlinghouse (@bgarlinghouse) June 16, 2022
Most Crypto Companies Do OtherwiseÂ
The development comes at a time when several crypto-related companies have embarked on massive layoffs due to the downturn in the crypto market.
Gemini recently announced the layoff of 10% of its employees to cope with declining market conditions. Similarly, cryptocurrency exchanges Coinbase and Crypto.com have also announced layoffs for some of their employees.
For Coinbase, the San Francisco-based exchange slashed nearly one-fifth of its staff strength, while Crypto.com laid off 5% of its workforce, which represents about 260 employees.
Crypto.com said it would lay off about 260 staff members, about five percent of its total workforce.
Crypto Community ReactionsÂ
Meanwhile, Binance’s recruitment announcement has attracted a lot of reaction from members of the cryptocurrency community, including Charles Hoskinson, the CEO of Input Output Global (IOG), the firm responsible for Cardano’s research and development, who said:
Spending money building things instead of on vanity advertising!? I'm shocked!!! @cz_binance proud of you. Keep innovating https://t.co/RodRto3kls
— Charles Hoskinson (@IOHK_Charles) June 15, 2022
Attorney John Deaton, who is currently seeking approval to represent 67,300 XRP holders in the ongoing lawsuit, also commented on Binance’s recruitment announcement.
Leadership is knowing when to say no (no matter the temptation) and not getting caught up with trying to keep up with the Jones’s (or https://t.co/6zihtJnMZ8’s). https://t.co/7fvLyK9VTg
— John E Deaton (@JohnEDeaton1) June 15, 2022
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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