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(Kitco News) – While many crypto companies have announced job cuts and other cost-cutting measures to survive the crypto winter, Binance, the world’s largest crypto exchange, is actually is looking to expand its business and hire more staff.
Binance CEO Changpeng Zhao (CZ) has indicated that the exchange plans to hire heavily in 2023, increasing its staff by 15% to 30%, according to a CNBC report. . This follows a significant year of headcount growth for the company, which saw him grow from 3,000 in 2021 to nearly 8,000 by the end of 2022.
According to CZ, the hiring plan is part of the company’s attempt to be “well organized” ahead of the next crypto bull market, admitting the exchange is currently “not very efficient.” There is
“We will continue to build and hopefully rise again before the next bull market,” said Zhao.
This announcement from CZ comes as many other exchanges in the industry are cutting staff numbers and cutting costs. This includes a 30% headcount cut by his Kraken in November, and announcements from his Huobi and Coinbase that he will lay off 20% of his workforce in 2023. For Coinbase, this is his second job cut in the past year, and he also revealed that he would be closing operations in Japan as part of a cost-cutting measure.
Binance Now Operational in Sweden
Binance continues its expansion efforts, bringing news on Wednesday that the Swedish arm of the exchange has been granted control and trading authorization for digital currencies by the Swedish Financial Supervisory Authority.
“After months of engagement with regulators, Binance Nordics AB has been granted registration as a financial institution to manage and trade cryptocurrencies by the Swedish FSA,” the company said in a statement. am.
Richard Teng, Head of Europe and MENA at Binance, said:
With this development, Swedish residents will be able to access various crypto and Web3 services offered by Binance. This includes services such as euro deposits and withdrawals, buying and selling cryptocurrencies in euros, spot trading, margin trading, staking with Binance Earn, obtaining a Binance Visa card, and access to the Binance NFT Marketplace. .
Binance Regional Leader Roy Van Krimpen said:
Sweden is now the seventh EU member state to grant operating rights to Binance, after France, Italy, Lithuania, Spain, Cyprus and Poland, allowing the exchange to operate within its borders. .
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