The crypto markets are going through a rough phase. Bitcoin has crashed more than 70% in 8 months. Amidst the crash, several companies are laying off their employees, desperately trying to save cash.
However, not all companies are facing the hammer of fate. Bit.com, the second-largest crypto options exchange, seeks to double its workforce amidst layoffs. But why?
Let’s explore.
The Crypto Recession
Crypto winter is frequently used in the cryptocurrency, DeFi and blockchain industry to denote the current recession that has hit the industry after it made phenomenal gains in 2021. The global economic condition, post-COVID economic losses and record inflation worldwide have led to mass layoffs in the industry.
Coinbase recently trimmed off 18% of its employees to save cash. BlockFi announced the layoff of 400 employees. Crypto.com also wants to lay off a similar number of employees.
However, these layoffs also bring an opportunity to hire some of the best minds in the industry. These are talented people suffering at the hands of fate.
Bit.com is a full-suite cryptocurrency exchange offering spot, futures, perpetual contracts, options and savings. They are one of the top 3 exchanges for cryptocurrency options . The exchange is launched by Matrixport, which is already a Unicorn With a $1B Valuation in 2021. The exchange has its core principles built around security and risk management features. A top-grade firm, Cactus Custody, handles its security. Jihan Wu founded Matrixport in 2019 and the mining rig manufacturer Bitmain.
Recently they have announced to launch USD options within the next few months as a part of their service portfolio.
Bit.com hiring amid layoffs
Bit.com is hiring because it is a golden opportunity.
With so many qualified personnel joining the talent pool and ready to get hired at a moment’s notice, it is a dream come true for many. For example, several exchanges will be desperate to hire Coinbase employees. The reputation gives them a distinct advantage.
Bit.com is taking the maximum benefit of this opportunity by hiring the best talents available in the industry. As per media reports, they are seeking to double their workforce, with a majority of the new hires to be engineers. Undoubtedly this workforce will have a majority of highly skilled employees hired at reasonable salary packages due to the ongoing market crisis.
“We have experienced the ups and downs, and we also committed to the potential future. Crypto enthusiasts and…
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