Crypto exchange KuCoin denied the rumor that it had joined some competitors in massively reducing staff size amid weak market conditions. Instead, CEO Johnny Lew revealed that his company will be hiring in the coming months.
- With exchange giants such as Coinbase, Cryptocom and Bybit taking a significant cut on headcount as the bear market has reduced trading volume, thus affecting the exchanges’ primary source of revenue, a new eye-catching rumor has emerged. spread, following the same path as KuCoin.
- However, the exchange denied such claims on Monday, by stating According to Woo Blockchain, the company is still committed to hiring an additional 300 staff members, clarifying that only underperforming employees are asked to leave.
- In addition, the company denied any association with the Terra ecosystem, saying it had not Investment hold any positions in or related to LUNA/UST, “nor does it have a wealth management product similar to UST.”
- as reported by cryptopotato Two weeks ago, CEO Johnny Lew ruled out any exposure to LUNA, 3AC, Babel, etc., noting that his exchange has no plans to impose restrictions such as withdrawal freezes for users.
- Lyu reassured investors and users on Monday, Tweet,We believe that talent is the key to stay competitive #crypto space. we will continue to expand and #boodle Despite the downturn in the market.”
- With the current size of 1,000 employees, Lyu plans to increase the workforce by about 30% with positions primarily in the technology, compliance and marketing departments.
- As indicated in its semi-annual report, the exchange — valued at $10 billion after raising $150 million in May — didn’t show a slowdown in its impressive growth amid market volatility, hitting the $2 trillion milestone. Achieving cumulative trading volume for spot and futures exceeding .
- This represents an increase of 180% year-on-year when its rivals typically saw a steep drop in trading volume during the same period.
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