Binance News: Changpeng Zhao, CEO of Binance opened up on the reports of layoffs in the crypto exchange. CZ addressed the rumor of layoffs as another day, another FUD and labeled it with the “4”.
Also Read: Bitcoin Loose $27K Level; Coinbase Registers Mega BTC Whales Deposits
Independent Crypto reporter, Colin Wu stated that the world’s biggest crypto by trading volume is planning to lay off 20% of its employees next month. However, this development comes in after the crypto exchange earlier announced that it would not sack any of its workforce.
Replying to this claim, the Binance chief mentioned that they have a “bottom out” program in the company. On the basis of this program, many employees who are not strong fits for the company are asked to leave.
He added that several of the people are great performers but they do not fit into the company’s culture. However, CZ gave a small example of Work From Home (WFH) and stated that it is not for everyone. Read More Crypto News Here…
Also Read: JPMorgan CEO Hints More Fed Rate Hike Amid Debt Ceiling Crisis
CZ highlighted that the “Bottom Out” program is constant and he pushes it on a weekly basis. There is no % of people the company has to push out, he claimed.
Binance CEO further added due to this kind of program Binance has managed to remain profitable since four months after its inception. The crypto exchange has gone through 2 crypto winters and still maintained its profitability on a daily, weekly, and monthly basis.
The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…
Pi Network has now added two new features to its Testnet. These are a decentralized…
U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…
Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…
The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…
Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…