Binance CEO Changpeng Zhao, often referred to as “CZ,” said in a recent interview that a potential cryptocurrency winter is great for business. When asked how Binance will perform during the current cryptocurrency winter after reports of hiring were frozen at Gemini and Coinbase, he responded confidently.
“This is not the first time we’ve experienced a crypto winter. If we’re in for a crypto winter, it’s going to be my Tuesday and Binance’s second. So this isn’t the first time we’ve experienced this. “Some are climbing forward. It’s not the first and it won’t be the last. We’re going to get to the finish line. – CZ Binance (@cz_binance) June 13, 2022
Changpeng Zhao has made, for many exchanges, a significant effort – recruiting new employees during a period of bear market prices to take advantage of the possibility of the next bull market. “Right now it’s much better to rent, in times of rising markets, everyone starts their own projects and everyone gets paid an unreasonable amount of compensation,” he said. Binance’s CEO expressed his opinion. “Now the market is more balanced, so top talent is always available and we want to hire them.” The cryptocurrency world has experienced a period of decline over the past few weeks, but the Binance boss still recommends that now is a great time for companies to expand and rent. However, meanwhile, many cryptocurrency exchanges such as Coinbase and Gemini have frozen new hiring and laid off employees. Companies such as Crypto.com and BlockFi have also laid off more than 5% of their employees due to market conditions. Robinhood also cut 9 percent of its staff in April. Changpeng continued by declaring, “Binance is always very frugal in big spending, we don’t sponsor super products” and “we don’t buy stadium rights.” Binance halted the withdrawal of BTC due to the jammed transaction causing a backlog on June 13, but CZ confirmed that the funds were ‘SAFU’ and that they were resumed a few hours later.
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