Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange in terms of daily transaction volume, drew attention with his positive statements at a conference he attended. Here’s what Binance CEO had to say…
Binance CEO: We will gain strength before the bull run
Binance CEO Changpeng Zhao said on Wednesday that Binance is planning a recruitment spree in 2023. He also said that he has a somewhat unconventional view as crypto firms have laid off a large number of employees amid continued pressure on coin prices. Zhao said that the world’s largest cryptocurrency exchange, Binance, has increased the number of employees at the company from 3,000 individuals to “almost” 8,000 in 2022.
Switzerland’s St. At the Crypto Finance Conference held in the city of Moritz, Zhao made another statement regarding the number of workers. He said Binance plans to increase the number of workers by 15 percent to mid-30 percent in 2023. This shows that Binance’s stance is different as other exchanges continue to lay off their employees.
In November, for example, Kraken announced it would lay off 30 percent of its workers, and this year Huobi and Coinbase said they would lay off 20 percent. This marked Coinbase’s second layoff process last year. Zhao said that Binance needed to “organize the company well” before the next crypto bull run, and acknowledged that the exchange is “not super-efficient” in the current situation. “We will continue to build and hopefully accelerate again until the next bull market,” Zhao said.
Zhao: FTX damage isn’t that big
The industry has grappled with the collapse of major projects, liquidity issues, bankruptcies, and the failure of crypto exchange FTX last year. Sam Bankman-Fried, who founded FTX, was charged by US prosecutors with eight misdemeanors, including fraud. Binance played a huge role in the downfall of FTX. Zhao has publicly revealed that his company plans to sell its holdings in FTX’s native token FTT, which exacerbated the coin’s collapse, adding to FTX’s bearish spiral. Zhao said he didn’t “plan” for FTX’s collapse.
In response to a question during the mid-session of the CFC St Moritz conference, the Binance CEO said that the “real damage” to the crypto industry from the FTX collapse was not that high. He said that FTX “is not a big player, they just make a lot of ‘noise’.” “There is definitely damage, but the branch will be fine,” Zhao said.