Grace Priscilla Teo · · 1 min readBinance cuts over 1,000 jobs amid regulatory pressure, executive exits
Binance CEO Changpeng Zhao/ Photo credit: Binance
Cryptocurrency exchange Binance has made significant job cuts following numerous executive departures, with regulators increasingly scrutinizing the industry in the US.
The layoffs come as the company defends itself against a lawsuit by the Securities and Exchange Commission. The job losses were reported by the Wall Street Journal to be more than 1,000.
In a tweet, Binance CEO Changpeng Zhao said the company is still hiring. “As we continuously strive to increase talent density, there are involuntary terminations,” he said.
See also: The US is going after Binance. Should the industry worry?
Note: This article was written with the help of AI. Don’t worry, humans were still involved in producing this story.
Editing by Thu Huong Le
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