--- title: "Many Crypto Startups Are Firing People Right Now, But This One Is Hiring 2,000 New Employees" description: "Amid an industry collapse and a class-action investor defrauding lawsuit, the Binance crypto exchange is looking for 2,000 new employees. " date: "2022-06-15" modified: "2022-06-15" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/binance-hiring-crash" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "binance" - "crypto" - "cryptocurrency" - "lawsuit" - "stablecoin" - "the blockchain" - "the digest" --- # Many Crypto Startups Are Firing People Right Now, But This One Is Hiring 2,000 New Employees ![Amid an industry collapse and a class-action investor defrauding lawsuit, the Binance crypto exchange is looking for 2,000 new employees. ]() *\Image: Futurism\* ## Why Not? Amid an industry collapse and a class-action lawsuit, the crypto exchange Binance is looking to bring on 2,000 new employees. In [a braggadocious Wednesday tweet]() announcing the new hires, Binance CEO Changpeng Zhao made tongue-in-cheek references to his company's poorly-faring competitors, many of which are currently [laying off workers en masse](). "It was not easy saying no to Super bowl ads, stadium naming rights, \[and\] large sponsor deals a few months ago, but we did," Zhao tweeted, in a clear dig at competitor's Crypto.com and Coinbase. "Today," he added, "we are hiring for 2000 open positions." ## Oh, That's Why This could be good news for former and soon-to-be-former employees of Crypto.com and Coinbase, the two companies Zhao not-so-subtly subtweeted in his announcement. Over the past week, they've [laid off roughly 1,360 people total]() as crypto plummets for the second time in a month. But given that these Binance hires are dropping not only during the beginning of what [experts say is a likely global recession]() and, perhaps more saliently, [an investor fraud lawsuit]() in California, it seems like a particularly bad time to hire a bunch of people. That's not the end of Binance's problems, either. Just this week, the company embarrassingly [had to halt transactions]() for multiple hours amid a huge Bitcoin selloff when the coin's value started shrinking. At the end of the day, it really looks like crypto hubris and solid strategical investment seem to be flip sides of the same (bit)coin. **More on the latest crypto crash:** [*Financial Planner Desperately Explains to Clients Why the Bitcoin Crash Is Good, Actually*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()