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Community Admires As Binance and Ripple Announce Job Vacancies Amid Widespread Crypto Talents’ Layoffs 

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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. 


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.

Ripple Joins Binance Recruitment Spree 

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/.”

Most Crypto Companies Do Otherwise 

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 Reactions 

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:

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.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jimaa
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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