Layoffs.fyi, a crowdsourced tech layoffs website that tracks layoffs based on publicly announced job cuts, has recorded over 25,000 tech layoffs in the last two months alone, and more than 40000 layoffs since the start of the year. Markets have been steadily declining, with no signs of a full recovery in sight.
In the midst of steady reports of companies throwing their employees under the bus, some have taken the initiative to open their doors to new hires who want to work for them.
Crypto Companies that are Hiring
We've compiled a list of some of the most recent hires at web3 companies that you might find interesting.
Binance, the world's largest cryptocurrency exchange by trading volume, has stated that it will continue to hire despite the corporate layoffs. According to a tweet by CZ, the company passed on expensive sponsorship deals such as Super Bowl ads and stadium naming rights, which made it possible to announce a whooping 2000 job openings on June 15.
Binance CEO, Changpeng Zhao stated:
“It’s not the first time we’ve gone through a crypto winter. If we are in a crypto winter, it would be my third and Binance’s second. So, it’s not the first time we’ve been through this.”
Binance has since this announcement, recently announced an exclusive, multi-year NFT partnership with football star Cristiano Ronaldo. The company on Twitter wrote:
“This is your opportunity to own an iconic piece of sports history and join CR7’s Web3 community”
implying its intention to introduce Ronaldo's fans to NFTs and the world of Web3, as well as its ongoing efforts to mass-adopt the concept.
On the same day that Binance announced its recruitment intentions, Kraken announced its global hiring push amid the market downturn. The crypto trading platform and exchange based in the United States took to its blog and wrote:
“We have not adjusted our hiring plan, and we do not intend to make any layoffs. We have over 500 roles to fill during the remainder of the year”.
Kraken stressed that it is not driven by "short-term opportunities to maximize profit" and that, having been founded in 2011, it has learned how to manage through difficult times.
Popular NFTs marketplace Opensea is going to continue hiring new staff members even if recent price decreases have been seen in both the NFT and cryptocurrency markets. The company suggested in a blog post that was published on June 14 about the debut of its new project Seaport, which is a web3 protocol that will enable its users to trade NFTs more conveniently and for lower fees.
"We're hiring across the board," the company said.
Everstake, a company that provides a platform for staking, is yet another company that is swimming against the tide of layoffs. The company is based in the conflict-torn Ukraine, and the CEO of the company, Sergey Vasylchuk, took to Twitter in the middle of June to inform us that despite crippled market conditions and war against Russia since February, Everstake had hired 30 professionals and still has more ten positions to be filled up.
In addition to this, he stated that the company has no intention of firing anyone and has instead set aside a "special fund" to carry it through the current bear market.
The cryptocurrency market's second-largest exchange by volume, behind only Binance, FXT also announced at the beginning of the month through its CEO, Sam Bankman-Fried that the company has no intention of putting a halt on the recruitment of new staff members. Bankman-Fried, in his lengthy thread on Twitter, assures:
“We’re going to keep pushing forward” and stated that he aims to “create an environment where people can thrive.”
CEO Ryan Wyatt stated in a Tweet on June 15 that Polygon, recognized for its sidechain network that facilitates the development of Ethereum-based decentralized applications (dApps), is also experiencing “hyper-growth.” He also stated that the company aims to expand its workforce by roughly 15% by the end of the year and have a number of roles available to those especially affected by layoffs.
This was followed by a call to action from Polygon's Head of Remote Tyler Sellhorn, who asked Twitter users who knew people laid off from Coinbase and other Web3 companies to tell them to apply to Polygon in a subsequent tweet, which included a link to the Polygon job page.
On June 15th, Ripple Labs Inc., the company that invented XRP and is the industry's leading provider of crypto solutions for businesses, made the announcement on Twitter that they were planning a huge recruitment event. In addition, it provided a link to its career and job page for anyone who was unable to attend the event in person and stated that the company intends to "hire 100s of roles from around the globe."
The event that took place on the 23rd was a success, and Ripple has become the high-profile technology company to create an office in Toronto, where recruitment efforts are underway both online and in-person.
Bitget, one of the world's most popular crypto derivatives copy trading platforms, offering spot trading, derivatives trading, and copy trading services, recently announced its plan to double its workforce within the next six months, to sum up to 1000 employees despite the crypto winter.
Gracy Chen, Bitget's Managing Director, recounted the company's derivatives trading volume, which reached an all-time high of $8.69 billion in March 2022. She also described how Bitget's trading volume increased more than tenfold in the preceding year and how the company added over two million users globally.
Read Also: Companies Firing in the 2022 Crypto Bear Market
The 15th of June appeared to be a day that will be remembered by those individuals who were hunting for jobs with web3 companies. We are hoping that by the end of this month or the beginning of the next month, we will hear more encouraging announcements. We will bring you updates on these as they come. WAGMI.
I/we have no positions in any asset mentioned, and no plans to initiate any positions for the next 7 days