Binance, a leading cryptocurrency exchange, has opened 2,000 positions for hiring, Chief Executive Officer Changpeng Zhao said on Wednesday, a sharp contrast to a slew of job cuts by companies operating in the digital currency space.
“It was not easy saying no to Super bowl ads, stadium naming rights, large sponsor deals a few months ago, but we did. Today, we are hiring for 2000 open positions for #Binance,” Changpeng Zhao said in a tweet to his 6.4 million followers on the social media app.
The move by Binance comes amid volatility in the cryptocurrency market as investors are dumping risky assets over fears that soaring inflation would force the U.S. Federal Reserve to aggressively raise interest rates and tip the economy into a recession.
Cryptocurrency exchange Coinbase Global earlier said it would cut about 1,100 jobs, or 18 percent of its workforce.
BlockFi and Crypto.com have slashed hundreds of jobs.
Bitcoin nosedived on Wednesday to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in the digital currency market sparked by crypto lender Celsius freezing customer withdrawals.