Binance plans to add 2000 people to its workforce amid market crash.

June 15, 2022

As the crypto market continues to crash, more and more crypto firms are announcing mass layoffs.

The largest US crypto exchange Coinbase also announced to slash its workforce by 20%.

On the other hand, Binance announced to hire 2000 new employees at the same time.

Binance CEO Changpeng Zhao tweeted that they turned down big sponsorship deals, super bowl ads and stadium naming rights a few months ago.

Coinbase spent $13 million on a QR ad during the superbowl event earlier this year.

The total market cap of the entire crypto market is currently at $900 billion. Nearly $2.1 trillion down from its all-time high.

Bitcoin is currently trading at just above $21,000, over 30% down in the last seven days.