Binance’s CZ Mocks Coinbase and Crypto.com as He Announces Hiring Spree
by Fintech News Singapore June 16, 2022Cryptocurrency exchange Binance is hiring for 2000 open positions, according to its Chief Executive Officer Changpeng Zhao (CZ) in a tweet on Wednesday.
This is in stark contrast to the other crypto exchanges announcing major layoffs, hiring freezes and even rescinding job offers to extend their runways during the market downturn.
Singapore’s Crypto.com will lay off 5% of its workforce (about 260 employees) while Coinbase was forced to slash about one fifth of its workforce. Bloomberg reported that the company had cut off these employees’ access to their laptop and emails before some of them even got the news.
Earlier this month, Coinbase found itself in hot water when news broke out that it had rescinded job offers and tried to restore its reputation by setting up a talent hub.
CZ even took a quick jab at these companies in his tweet, calling out their excessive spending including Crypto.com’s US$700 million deal for the naming rights to Lakers’ Staples Center as well as Coinbase’s Super Bowl QR Code commercial that cost US$14 million.
It was not easy saying no to Super bowl ads, stadium naming rights, large sponsor deals a few months ago, but we did.
Today, we are hiring for 2000 open positions for #Binance. pic.twitter.com/n24nrUik8O
— CZ 🔶 Binance (@cz_binance) June 15, 2022
