(Reuters) – The CEO of cryptocurrency exchange Binance, Changpeng Zhao, said on Wednesday that 2,000 jobs are now available. This is in stark contrast to the many companies in the digital currency space that have been cutting jobs.
“A few months ago, it wasn’t easy to say no to Super Bowl ads, stadium naming rights, and big sponsor deals, but we did. Today, we’re looking for people to fill 2000 open jobs at #Binance, “Zhao told his 6.4 million followers on the social media app Twitter what he thought.
Reuters asked Binance for more information about the new jobs, but they didn’t answer right away.
Binance’s move comes at a time when the cryptocurrency market is very volatile and investors are getting rid of risky assets because they are afraid that rising inflation will force the U.S. Federal Reserve to raise interest rates quickly and send the economy into a recession.
The cryptocurrency exchange Coinbase (NASDAQ:COIN) Global Inc. announced on Tuesday that it would cut about 1,100 jobs, or 18% of its staff. This means that Coinbase is the latest company to get ready for a drop in the price of cryptocurrencies.
BlockFi and Crypto.com have also cut hundreds of jobs, and Meta Platforms and Intel Corp (NASDAQ:INTC) have stopped hiring.
Bitcoin fell to a new 18-month low on Wednesday, dragging down smaller tokens with it. This led to a sharp drop in the digital currency market, which was started when crypto lender Celsius stopped customer withdrawals.
