Binance To Increase Workforce by 30% in 2023 as per CEO ‘CZ’

  • CZ said that he plans to increase the exchange’s employment by 15-30% this year.
  • Binance was riding the wave vigorously despite all the challenging times last year.

Binance CEO Changpeng Zhao shared his plans for the exchange in 2023 at a conference in St. Moritz, Switzerland. CZ said that he plans to increase the exchange’s employment by 15-30% this year.

Additionally, he discussed the exchange’s expansion despite the year 2022’s severe bear market. According to his calculations, the exchange boosted its workforce size from 3,000 in 2022, to 8,000. CZ has said that, in 2023, it intends to prioritize making the exchange more efficient by, among other things, investing in both technology and customer service.

CZ stated:

“We have one business that is pretty big, pretty profitable but it is not going to last forever… we don’t want to become the Kodak. We want to disrupt ourselves rather than other people disrupting us.”

Made $12 Billion in 2022

CZ also predicted that over the next 10–15 years, a decentralized exchange will emerge that would be larger than Binance. Overall, 2022 was a rough year for the cryptocurrency industry, investors, and companies. But CZ’s Binance was riding the wave vigorously despite all the challenging times.

Recent figures from Cryptoquant indicate that Binance’s yearly income has surged 10X over the last two years. The report also claims that the exchange earned $12 billion in 2022.

Troubled cryptocurrency lender Voyager Digital has been given preliminary court clearance to sell its assets to cryptocurrency exchange Binance.US for $1.02 billion. If the transaction is allowed by the creditors, the consumers will get back 51% of their cryptocurrency holdings from before the bankruptcy. The deal’s national security assessment is also progressing well and should be finalized shortly.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.