Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, drew attention with his positive statements at a conference he attended. Here’s what Binance CEO had to say…
Binance CEO: We will gain strength before the bull run
Binance CEO Changpeng Zhao said on Wednesday that Binance is planning a recruitment spree in 2023. He also said that he has a somewhat dissenting view, as crypto firms have laid off a large number of staff amid continued pressure on coin prices. Zhao said that the world’s largest cryptocurrency exchange, Binance, has increased the number of employees at the company from 3,000 to “almost” 8,000 in 2022.
Switzerland’s St. At the Crypto Finance Conference held in the city of Moritz, Zhao made another statement regarding the number of staff. He said Binance plans to increase its staff by between 15 percent and 30 percent in 2023. This shows that Binance’s stance is different as other exchanges continue to lay off their staff. As we reported on Kriptokoin.com, rival exchanges had to cut a large portion of their workforces after nearly $1.4 trillion was wiped out of the crypto market in 2022.
In November, for example, Kraken announced it would lay off 30 percent of its staff, and this year Huobi and Coinbase said they will lay off 20 percent. This marked Coinbase’s second layoff process last year. Zhao said that Binance needed to “organize the company well” before the next crypto bull run, and acknowledged that the exchange is “not super-efficient” in the current situation. “We will continue to build and hopefully get up to speed again until the next bull market,” Zhao said.
Zhao: FTX damage isn’t that big
The industry has grappled with the collapse of major projects, liquidity problems, bankruptcies, and the failure of crypto exchange FTX last year. Sam Bankman-Fried, who founded FTX, was charged by US prosecutors with eight crimes, including fraud. Binance played a huge role in the downfall of FTX. Zhao has publicly said his company is planning to sell its holdings in FTX’s native token FTT, which exacerbated the coin’s collapse, adding to FTX’s bearish spiral. Zhao said he didn’t “plan” for FTX’s collapse.
In response to a question on the sidelines of the CFC St Moritz conference, the Binance CEO said that the “real damage” to the crypto industry from the FTX crash was not that high. He said that FTX “is not a big player, they just make a lot of ‘noise’.” “There is definitely damage, but the industry will be fine,” Zhao said.
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