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Binance CEO “CZ” Concerned About The Future Of Crypto, Here’s Why

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Binance CEO Changpeng “CZ” Zhao on Tuesday said the Binance team has people from over 100 countries but still lacks talent. Despite layoffs by crypto companies, Binance CEO has committed to continue hiring and educating people about crypto, Web3, and blockchain. The world’s largest crypto exchange continues its global expansion for its mission to lead the next wave of crypto and blockchain adoption.

Binance Looks for More Talent Amid Layoffs on the Other Side

Crypto companies including exchanges such as Coinbase, Crypto.com, Celsius, Bybit, and BlockFi have laid off thousands of their workforce. The collapse of FTX has stretched the crypto winter, forcing companies to continue laying off employees across the globe.

Binance CEO “CZ” in a tweet on December 6 said:

“Binance team has over 100 nationalities. Still missing a large number.”

Recently, Binance announced plans to hire 8,000 employees by the end of 2023. The move comes as the crypto market remains under pressure due to the FTX crisis and macroeconomic factors. Moreover, Binance has also committed nearly $2 billion to its Industry Recovery Initiative to help crypto companies facing liquidity issues following the collapse of FTX.

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CZ also tweeted that Binance collaborated with law enforcement agencies in Singapore, Malaysia, and Thailand in the last three weeks to deliver practical cryptocurrency training and workshops for investigators and prosecutors.

It included 2-day training in collaboration with Thailand’s Anti-Money Laundering Office to address cryptocurrency fundamentals. Also, hands-on investigation techniques, case studies, and the role of crypto exchanges in crime investigations and crime prevention.

Binance Records 30% Rise in Trading Activity Post FTX

While some blame Binance for the collapse of FTX after it announced selling FTT tokens, Binance CEO this should have been done earlier to prevent FTX from getting big. Meanwhile, Sam Bankman-Fried attends interviews to reveal what went wrong and relation with trading firm Alameda Research.

Binance recorded a 30% increase in trading activity after the crypto exchange FTX filed for bankruptcy. Binance’s native token BNB trades at $288, down over 2% in the last 24 hours.

Also Read: Crypto Twitter Demands US Congress To Subpoena SBF

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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