Crypto Exchanges Buck Layoff Trend, Adding Staff in 2022

According to reports, is planning to increase its workforce by about 1,400 employees. This move comes as several major cryptocurrency exchanges, including Binance, Coinbase, Gemini, and Kraken, have been hiring new team members while the value of cryptocurrencies like Bitcoin has been surging. In contrast, many tech and crypto companies experienced layoffs in 2022 and early 2023 due to market conditions, leading to some filing for bankruptcy. has already hired 700 staff members since November 2023 and aims to bring on another 700 for customer service and corporate positions, according to the CEO Kris Marszalek. The intention behind this expansion is to strategically support the company’s plans to increase its user base. The tech industry as a whole has seen a significant decrease in layoffs, with only 7,322 recorded in March 2024 compared to 37,963 in March 2023, according to a survey conducted by

Coinbase, Kraken, Gemini, and Binance are actively looking to fill numerous open positions. Despite the challenges faced by the crypto industry in 2023, such as regulatory scrutiny and falling token prices, the increasing value of Bitcoin and the approval of spot Bitcoin exchange-traded funds in 2024 have led to a reversal in fortunes for some. Many companies in the United States still face civil lawsuits from the U.S. Securities and Exchange Commission and other regulatory concerns at both the state and federal levels.

One thought on “Crypto Exchanges Buck Layoff Trend, Adding Staff in 2022

  1. Cheers to for their strategic plans to increase their user base by expanding their workforce! With the crypto market gaining traction, this move will help them stay competitive and offer exceptional customer service.

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