Crypto Companies Are Expanding Their Workforces

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Major cryptocurrency exchanges have put a hold on planned layoffs that were initially slated to begin in 2023. Instead, these trading platforms are now actively recruiting for hundreds of new job openings within the digital asset industry.

Khris Marszalek, CEO of Crypto.com, revealed to Bloomberg that the company has already hired 700 employees since November 2023. He also shared that the exchange plans to bring on an additional 500 employees for customer service positions and 200 for corporate roles.

However, the company’s hiring strategy has shifted since it initially announced a reduction of 260 employees, or 5% of its staff, in June 2022.

The number of planned layoffs increased significantly over the summer, and by October, the platform had reportedly let go of around 40% of its team, leaving more than 2,000 people without jobs. In January 2023, the company announced a further reduction of 20% of its workforce.

These layoffs were part of a larger trend that began in 2022 as a result of the unfavorable market conditions in the crypto industry.