Cryptocurrencies In Trouble .. Binance Is A Huge Statement, A Founder Who Does Not Want To Back Down

Exchange co-founder and chief executive officer Changpeng Zhao has announced that Binance, the world’s largest crypto exchange, will employ 2,000 people. Binance made the announcement at a time when the crypto market is experiencing severe fluctuations. With rising inflation .. it seems that the Federal Reserve will raise interest rates. There are also concerns that the economy is in danger of slowing down. With these concerns crypto investors are reluctant to invest in risky assets.

Binance, on the other hand, said it was hunting down employees of CoinBase, the cryptocurrency exchange in the United States, a day before announcing it would hire 2,000 people. It said it would lay off 18 per cent of its workforce, or 1,100.

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In addition to Coinbase, BlackFi and Crypto.com are also hunting down hundreds of employees. Meta-platforms, Intel Corp. put a brake on hiring. The announcement of the Binance at this time was a blow to many. It has given hope to employees who are giving up hope on this industry, to employees who have fallen by the wayside. Binance reveals via Twitter that it employs 2,000 people.

Cryptocurrencies, on the other hand, are subject to severe fluctuations. Bitcoin price drops to 18-month low. Other small currencies are also suffering. The digital currency market plummeted as the Crypto Lender Celsius Network banned its customers from withdrawing tokens. Crypto Winter is hitting investors hard. Market sources say the bitcoin was priced at $ 64,000 before the market crash. But these currencies are currently facing severe bearish sentiment.

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