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cryptofreak

Binance is on hiring spree

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Despite the 80% correction experienced by the crypto market this year Binance is on a hiring spree.

Wei Zhou (Chief Financial Officer of Binance) in an interview with Bloomberg revealed that the company will be hiring 50 new employees in its Malta headquarters as well as the firm’s first fiat-to-crypto exchange in Singapore.

 

The Malta-based exchange already boasts 300 employees across 39 countries and will soon expand its working team to over 350 people.

Binance over the past year, has experienced an exponential growth, in just months adding millions of users and billions in daily trading volume. With this, Binance is seen as the fastest growing startup in history. Zhou said:

Quote

Our goal right now is to continue to grow the ecosystem, not just for cryptocurrency, but for the blockchain industry as well. The company is currently looking to acquire projects in the fiat space.

 

Binance asides managing funds worth billions of dollars, has also put in great efforts to integrate cryptocurrencies that fits into the exchange’s requirements.

Binance’s rigorous approval process of cryptos has led to the decrease in token’s acceptance rate by 2 to 3 percent. Zhou thinks it’s harder to get into Binance than it is to get to Harvard and Stanford. It’s like less than 2 to 3 percent acceptance rate in terms of tokens we’re looking at.

 

This long and complicated process of token approval highly requires individuals having the necessary experience in the crypto field, who can evaluate projects based on a wide range of criteria. This is the major reason behind the exchange’s demand of a large workforce. 

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