According to today’s allegations, Binance is evaluating to reduce the number of staff. However, the crypto exchange has not confirmed that this is exactly the case. On the contrary, the CEO of the exchange, Changpeng Zhao, put the FUD tag on this rumor.
Will the giant stock market reduce the number of personnel?
Binance said it was “re-evaluating” its staff numbers. However, he did not confirm whether he was cutting staff following rumors on Twitter that the world’s largest crypto exchange was laying off employees. According to a news source, Binance said it needed to “focus on talent density” and “re-evaluate” whether it has “the right talent and expertise in critical roles” rather than “having the rights”. Binance added that it will “try to fill hundreds of open roles.”
Journalist Colin Wu’s Wu Blockchain newsletter said on Twitter that “multiple sources” have confirmed that Binance is already laying off staff. “The layoffs may be related to the general market weakness and the previous major expansion,” Wu said in a tweet. He also added that next month the exchange may lay off 20% of the staff.
However, Binance’s Chief Communications Officer Patrick Hillmann noted in a tweet that the exchange “did not remove 20% of employees as a cost-cutting measure.”
Binance CEO CZ: These rumors are just another FUD
After these rumors, the CEO of the exchange, Changpeng Zhao (CZ), broke his silence. Binance CEO spoke about the news of the layoffs on the crypto exchange. CZ mentioned that the company has a “bottom-bottom” program. In this context, CZ gave a small example of Working from Home (WFH). CZ treated the layoff rumor as yet another FUD. Accordingly, he tagged it with “4” as he always does.
Responding to the rumors, the Binance boss noted that the company has a “bottom out” program. On the basis of this program, many employees who are not strong for the company are asked to leave. CZ first said that a lot of people performed great. However, he added that they do not fit the company’s culture. However, CZ gave a small example of Working from Home (WFH). On the other hand, he stressed that this is not for everyone.
Meanwhile, the Binance boss stated that the “Bottom Out” program is ongoing. Hence, he noted that he practices it on a weekly basis. In addition, he claimed there was no ratio for people Binance had to ‘lay off’. CZ also clarified why this program was implemented. According to him, thanks to this type of program, Binance was able to become profitable four months after its inception. cryptocoin.comAs you follow, the giant crypto exchange has survived 2 crypto winters. Moreover, it still continues to maintain its profitability on a daily, weekly and monthly basis.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.