Binance CEO plans to leverage crypto winter

Binance CEO, Changpeng Zhao, commonly known as “CZ,” said in a recent interview that a potential crypto winter is good for business.

When asked how Binance will fare during the current crypto winter following reports of recruitment freezes at Gemini and Coinbase, he answered confidently.

“It’s not the first time we’ve gone through a crypto winter. If we are in a crypto winter, it would be my third and Binance’s second. So it’s not the first time we’ve been through this.”

Changpeng Zhao has undertaken what is, for many exchanges, a hairy endeavor – recruiting new staff during a bear market to take advantage of the next possible bull market. “Right now is much better to hire, during bull markets, everyone is starting their own projects, and everyone is getting paid a ridiculous amount of compensation,” he continued:

“Now the markets are more balanced, so top talents are available, and we want to hire them.”

The crypto-world has suffering through a period of decline these past few weeks, but the Binance boss still recommended that now is an excellent time for companies to expand and hire.

Related: Major crypto firms reportedly cut up to 10% of staff amid bear market

Meanwhile however, many crypto exchanges such as Coinbase and Gemini have frozen new hires and laid-off employees. Companies such as Crypto.com and BlockFi have also layed off over 5% of their employees due to market conditions. Trading platform Robinhood also axed 9% of its staff in April.

Changpeng continued by stating, “Binance has always been very frugal on large spending, we didn’t sponsor the super bowl,” and “we didn’t buy stadium rights.”

Binance temporarily paused BTC withdrawals due to a stuck transaction causing a backlog on June 13, but CZ confirmed that funds were ‘SAFU’ and they were resumed a few hours later. 

All Dutch and English crypto news!

Analyse: Bitcoin koers stijgt gemiddeld 16% in april, wat kan je verwachten?

De Bitcoin koers stijgt gemiddeld 16 procent in april, normaal gesproken is de vierde maand van het jaar dus ontzettend bullish. Wat kunnen we volgende...

FTX former execs and promotors to settle class lawsuit for $1.3M

Former FTX and Alameda executives agreed to share information to aid in the class group’s legal fight against other alleged FTX promoters. News Own this piece of...

Bitcoin Cash open interest surges past $700M ahead of BCH halving

Bitcoin Cash hasn’t seen open interest at this level since May 2021, when its price was nearly 2.5 times higher. Markets News Own this piece of crypto...

New Bitcoin ETFs now hold 500,000 BTC and GBTC outflows slow

The newly launched spot Bitcoin ETFs, excluding Grayscale have now amassed $35 billion worth of Bitcoin in just 54 days of trading. News Own this piece of...

Beste exchanges

Koop je crypto bij Bitvavo