In the midst of all the turmoil in the cryptocurrency market right now, a lot of companies are suffering major losses and laying off jobs. However, some cryptocurrency exchanges have managed to stay afloat, such as Bitfinex which said it had no intention of cutting jobs despite the bear market.
For Bitfinex and Tether Limited, there is no question of cutting jobs!
Exchanges Coinbase, Gemini, Bybit, BitMEX and Crypto.com which compete with Bitfinex have recently cut jobs in the face of collapsing cryptocurrency markets. Data reports that at least 1,500 people in the crypto industry have lost their jobs. On the other hand, cryptocurrency companies Bitfinex and Tether Limited, which are from the same parent company, have said that they have no intention of reducing their workforce. Recall that Tether Limited is the company that issues the stablecoin Tether (USDT).
Note that currently, the total headcount of the two companies is 250, with 50 people working at Tether Limited alone. The two sister companies have said they were always profitable. They also plan to hire more staff in the current context. According to Claudia Lagorio, COO of Bitfinex, the cryptocurrency exchange will continue to hire talent as needed.
Lagorio specifically asserted: Bitfinex continues to invest in acquiring talent and resources in a measured and methodical manner. We have a range of career opportunities that we are looking to fill and our hiring plans remain intact. She clarified that Bitfinex has never “ hired aggressively ” and then reduced its staff for a “ crypto winter “.
At the same time, the spokesperson for Tether Limited said: “ Business continues as usual at Tether. » « Tether is profitable and will continue to hire for key roles to support our business. We care about our employees and their future. We have never downsized, even in past crypto winters, and we never will “, he continued.
Other exchanges plan to hire more staff
Bitfinex and Tether Limited are not the only companies planning to hire staff despite current cryptocurrency market conditions. For instance, Binance cryptocurrency exchange which currently has more than 900 open positions plans to hire 2,000 people worldwide. This is information communicated last week, on Twitter, by Changpeng Zhao, the CEO of the company.
In parallel, Kraken crypto exchange announced that it wants to increase its workforce by more than 500 people. Additionally, FTX CEO Sam Bankman-Fried announced on Twitter that the company has no plans to freeze hiring. Then Polygon co-founder Sandeep Nailwal recently said that the company “hiring aggressively in all this chaos“.
As their competitors cut jobs to cope with the cryptocurrency market crash, Bitfinex and Tether Limited plan to hire more staff instead. Both companies say they are still profitable. Cryptocurrency exchanges Binance and Kraken are also planning to increase their workforce.
Source : The Block
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.
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