Today’s top cryptocurrency exchange in the world, Binance, is still there. Many cryptocurrency businesses had to make personnel reductions to continue operating during the bear market. This has no impact on Changpeng Zhao’s exchange, though.
Why Other Exchanges Survived Challenging Market
The exchange currently employs more than 7,400 people, according to a tweet from CZ today. By the end of the year, he wants Binance to have about 8,000 employees.
At the time of this tweet, there were 5900 users on @Binance. We currently have 7400+ people. By the end of the year, we aim for around 8000. Continued hiring. (CZ) https://t.co/p69p5aqrXe (@cz binance) Binance 21 November 2022.
One of the few exchanges that are still hiring is Binance. Meanwhile, several other exchanges, including Coinbase, BitMEX, and Gemini, have survived the challenging market environment.
Before then, the exchange also intended to support Sam Bankman Fried’s FTX, a competitor. The FTX situation was out of control; thus, the purchase could not be completed.
Additionally, it has recently broadened its regional reach to include places like Dubai, Abu Dhabi, and Cambodia. In order to promote its NFT line, the exchange has also teamed up with famous soccer player Cristiano Ronaldo.