Crypto giant Binance opens 2,000 positions for hiring, says CEO Changpeng Zhao

Binance was founded by Chinese-Canadian entrepreneur Changpeng Zhao.

Cryptocurrency exchange Binance has opened 2,000 positions for hiring, Chief Executive Officer, Changpeng Zhao, said on June 15, a sharp contrast to a slew of job cuts by companies operating in the digital currency space.

"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,” Zhao said in a tweet to his 6.4 million followers on the social media app.

It was not easy saying no to Super bowl ads, stadium naming rights, large sponsor deals a few months ago, but we did.

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Today, we are hiring for 2000 open positions for #Binance. pic.twitter.com/n24nrUik8O

— CZ Binance (@cz_binance) June 15, 2022

Binance did not immediately respond to Reuters request for additional details on the new jobs.

The move by Binance comes amid extreme volatility in the cryptocurrency market as investors are dumping risky assets over fears that soaring inflation would force the U.S. Federal Reserve to aggressively raise interest rates and tip the economy into a recession.

Cryptocurrency exchange, Coinbase Global Inc, said on June 14 that it would cut about 1,100 jobs, or 18 per cent of its workforce, the latest company preparing to ride out a downturn in the crypto sphere.

BlockFi and Crypto.com have also slashed hundreds of jobs, while Meta Platforms and Intel Corp also tapped the brakes on hiring.

Bitcoin tumbled on June 15 to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in the digital currency market sparked by crypto lender Celsius freezing customer withdrawals.