Binance Fires Non-performers

Crypto exchange Binance has had to lay off a portion of its 8,000-strong workforce as its market share diminishes and overall trading volumes decline.

In response to Wu Blockchain’s tweet on the layoffs, Binance’s spokesperson has said that they were “reevaluating whether we have the right talent and expertise in critical roles.”

Furthermore, they emphasized that these layoffs were not related to rightsizing; rather, Binance is looking to fill hundreds of open roles and grow their staff by 15-30% by 2023.

It is believed that their recent U.S. regulatory issues might be a contributing factor to the market share decline.