Binance Booming: 500 New Roles to be Filled by H1 2021

Binance Not Planning Any Layoffs

• Binance has no plans for layoffs and is actively hiring for 500 roles by the end of June 2023.
• Since January, they have hired 600 people and have 463 job openings across various departments.
• The company has been regarded as one of the „winners“ in 2022, capturing an overwhelming portion of the market.

Company Growth

The crypto exchange Binance is continuing to grow, despite speculation that they may be planning layoffs. A spokesperson told Cointelegraph that they have hired 600 people since January and are currently trying to fill another 500 roles by the end of June 2023. This news comes after a huge spike in crypto layoffs in January – the majority from crypto exchanges – with Coinbase announcing it would be reducing its headcount by around 950 on Jan 10th and Crypto.com reducing its workforce by around 500 on Jan 13th.

CZ’s Vision

Binance CEO Changpeng Zhao said earlier this year that he was planning for a major hiring spree in 2023, increasing their headcount by 15-30%. Currently there are 463 listings on their job openings page, with roles ranging from business development, communications, customer support and engineering among other key positions necessary for growth as an organization. These numbers back up CZ’s initial vision of expanding their team size in order to make progress against a rapidly changing industry landscape.

Market Share Capture

Binance has been seen as one of the “winners” in 2022 due to some significant developments like zero-fee Bitcoin trading which has enabled them to capture an overwhelming portion of the market share relative to other players in the space such as FTX who have seen declines recently as well as competitors like Coinbase & Huobi who have also had massive layoffs in recent months.

Recent Scrutiny

Despite this growth however Binance has still come under intense scrutiny lately regarding certain allegations such as funds being shuffled between accounts totaling $1.8 billion USD which many believe could lead to fraudulent activity or money laundering if not properly investigated & addressed quickly by executives at Binance going forward.