Crypto Exchange plans to double staff despite bear market

25.07.2022 Off By apos2t

Australia-based Crypto currency platform plans to double the staff over the next six months. This is in stark contrast to the decisions of exchanges such as Coinbase and Gemini, which are conducting staff reductions.

The exchange plans to increase its staff to 400 employees by the end of the year, according to a press release. According to the publication, at the beginning of 2022, the company employed 230 employees, and by mid-2022 it had grown one and a half times.

Meanwhile, exchanges such as Coinbase, Gemini and they are cutting staff amid a market downturn, when the price of bitcoin, the largest cryptocurrency by market capitalization, has fallen by more than 50% since the beginning of the year. experienced “tremendous growth and generated strong and steady cash flow despite uncertain market conditions”, the company said in a statement. The volume of trading on the derivatives exchange has increased 5 times over the past 6 months, reaching a record level of $9.19 billion in July, said Managing Director Justin Hance.

In January has announced registration with the US authorities, which means that it plans to expand not only in Asia, but also in North America.