Amid the hurdles facing the global crypto industry, Binance is looking to expand its headcount to about 8,000 employees by the end of the year.
Changpeng Zhao, CEO and founder of Binance / Photo credit: MX Global
Changpeng Zhao, the founder of Binance, tweeted that the company currently employs over 7,400 people. In June of this year, the company had a 5,900-strong team and was looking to fill 2,000 open positions.
The development follows the recent collapse of FTX, which once fought against Binance as one of the top three exchanges worldwide. Binance, Coinbase, and Kraken are now the biggest exchanges in terms of 24-hour transaction volume.
Initially, Binance had said it was looking to acquire FTX. However, it canceled the potential deal after due diligence and “latest news reports regarding mishandled customer funds and alleged US agency investigations.”
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Before that, it was reported that Binance was eyeing an investment or the acquisition of a bank, looking to bridge the crypto and traditional financial spaces.
Editing by Deepti Sri
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