According to reports, the CEO of Crypto.com, Kris Marszalek, announced that the company is hiring around 1,400 new employees, expanding its workforce significantly.
Based on a Bloomberg article from April 16, it has been revealed that companies such as Crypto.com, Binance, Coinbase, Gemini, and Kraken have been adding staff members. This comes as cryptocurrencies like Bitcoin (BTC) experience price increases prior to the blockchain’s halving event. In contrast, numerous crypto and tech firms implemented large-scale layoffs in 2022 and the beginning of 2023 due to market instability. Consequently, businesses like FTX, Celsius, BlockFi, and others have sought bankruptcy protection.
According to reports, Marszalek stated that Crypto.com had employed approximately 1,400 new staff members between November 2023 and the present. These hires were intended for customer service and corporate roles, with a further 700 more set to join the team. The CEO emphasized that this expansion was part of a deliberate and well-considered approach to boost the platform’s user base.
Based on information from Layoffs.fyi’s survey of 255 tech companies, there were approximately 7,322 job terminations in March 2024 – a significant drop of over 80% compared to the 37,963 layoffs that occurred in March 2023.
When this information was released, Coinbase displayed 215 job openings on its website. Kraken had 81 open positions, while Gemini showed 80. Binance posted the most, with 347 open positions. Due to increased regulatory oversight and declining cryptocurrency prices, several crypto companies cut their workforce by approximately 20% in 2023.
Some changes related to Bitcoin are showing signs of being reversed as the cryptocurrency reaches record-breaking prices in 2024 and exchange-traded funds become approved for spot trading. However, several American companies continue to grapple with lawsuits initiated by the Securities and Exchange Commission and other regulatory hurdles at both state and federal levels.
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2024-04-16 22:34