Surely nothing will go wrong with this plan. Why Not?<\/p>\n
Amid an industry collapse and a class-action lawsuit, the crypto exchange Binance is looking to bring on 2,000 new employees.<\/p>\n
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.<\/p>\n
\"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.<\/p>\n
\"Today,\" he added, \"we are hiring for 2000 open positions.\"<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
More on the latest crypto crash: Financial Planner Desperately Explains to Clients Why the Bitcoin Crash Is Good, Actually<\/p>\n
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Read more here: Surely nothing will go wrong with this plan. Why Not? Continue reading
\nMany Crypto Startups Are Firing People Right Now, But This One Is Hiring 2,000 New Employees - Futurism<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"