- According to a tweet from Changpeng Zhao by the end of this year the company hopes to employ 8,000 employees.
- Approximately 5,900 people worked for the exchange in June, and there are currently over 7,400.
- Following the failure of competing cryptocurrency exchange FTX earlier this month, worries about Binance’s hegemony in the sector have increased.
The largest cryptocurrency exchange in the world, Binance, wants to expand even further and plans to bring on 600 new people by the end of the year.
Zhao stated at a conference in Indonesia that Binance intends to create a worldwide cryptocurrency association and an industry recovery fund to “establish extremely strong rules for the sector.”
Binance claimed that while the business did not intentionally try to harm rival FTX, the company’s financial issues had caused Binance to reduce its exposure. It was widely believed that Binance’s declaration that it will sell its FTT token holdings played a role in FTX’s abrupt decline.