01.06.2023

Binance is going to make cuts

The media reports that the largest cryptocurrency exchange Binance has begun to reduce staff. It is planned to lay off about 20% of the total number of employees. This information was shared by Colin Wu, referring to his sources in the company.

Learn more about the reasons


The head of the cryptocurrency exchange has already responded to this statement. He said that the journalist is very wrong. After all, the company regularly conducts employee reductions, which, according to the company's managers, are not particularly suitable.


He also noted that the layoffs are explained by regular requirements for branches to reduce costs. At the same time, the head of the crypto exchange said that there is no general plan to reduce the company's employees yet.


The director of the crypto exchange strategy also did not confirm plans to reduce 20% of the staff in order to optimize costs. Along with this, he said that the observed growth of crypto exchange employees over the previous 5 years requires a review of the allocation of resources according to the current situation.

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