Bit.com Plans to Double Workforce as Layoffs Mount in Crypto and Financial Markets

While other prominent exchanges have been looking to cut costs, Bit.com is planning to hire several new employees

By Shashank Bhardwaj


Image: Shutterstock

Bit.com, the second-largest crypto options exchange, is reportedly seeking to double its workforce amidst layoffs by other prominent exchanges in the wake of the latest market crash. Founded in 2008, Bit.com is a full-suite cryptocurrency exchange offering Spot, Futures, Contracts, Options trading and Savings.

Bit.com’s decision to double its employees comes at an interesting time for the crypto community when prominent exchanges like Coinbase and BlockFi have laid off several employees in an effort to reduce costs and increase profits.

In the latest crypto market crash, Bitcoin and Ethereum have seen a 70 percent decline in value from their respective peaks, while others such as Solana, Polkadot, Dogecoin, Avalanche, and others, have lost more than 90 percent of their value.

“We have experienced the ups and downs, and we are also committed to the potential future. Crypto enthusiasts and experienced talents are welcome to join Bit.com” said Lan Yue, COO of Bit.com. 

“Bit.com has been hiring and growing aggressively since the beginning of 2022. The recent collapse of the market has no direct impact on our original runway, we have the capacity to stick to our developing and hiring plan. Bear market may bring our users negative sentiment, it also brings us time to strengthen our product and risk management for the next bull market”, Lan added.

Since most major crypto companies are laying off their workforce, there is a fantastic opportunity for businesses like Bit.com to hire from a wide pool of talented employees. They could also greatly benefit from having top-tier professionals in their organization. 

Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash 



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NFT project DeGods DAO buys basketball team in Ice Cube's Big3 leap

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NFT sector to process more than $800 billion in next 2 years: report

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Telegram to allow users to send crypto

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Goldman Sachs rolls out first bitcoin-backed loan

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Ukrainian government to accept NFT donations

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Bitcoin not a panacea for Africa's economic woes: IMF

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Mexico Senate gets Bitcoin ATM

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Edward Snowden reveals he's one of the creators of Privacy Coin Zcash

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BlackRock launches blockchain industry ETF

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Ethereum's incoming switch to Proof-of-Stake driving down GPU prices

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Central African Republic adopts bitcoin as legal currency

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Brazil approves law to regulate crypto

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Binance announces crypto card for Ukrainian refugees

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New York bans crypto mining using non-renewable power

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Derivatives exchange Bitget launching in India

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NFL Releases NFT collection on Polygon

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Sustainable Bitcoin mining grew 60% in the past year

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Bored Ape Club Instagram hacked, NFTs stolen

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Dogecoin surges after Twitter accepts Musk's buyout offer

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Meta to open first physical store in metaverse bet

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New York looking to criminalise crypto frauds

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Popular NFT launch on Ethereum loses $34 million in faulty smart contract

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DeFi platforms at much higher risk than centralised exchanges: report

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Twitter to allow crypto payments, backed by Stripe

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Bahamas may allow residents to pay taxes with crypto

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Coinbase to acquire BtcTurk exchange for $3.2 billion

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Paris Hilton invests in Afterparty's new NFT ticketing platform

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Ridley Scott to Make a Movie on Ethereum

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Russia to include cryptocurrencies in its updated tax laws

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40 crypto companies sign open letter to EU regulators

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BTC and ETH will break all-time highs in 2022: Celsius CEO

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Blockchain games are leading the DApp industry: DappRadar report

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Finance Minister Nirmala Sitharaman calls for global crypto regulations

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WazirX co-founders shifting base to Dubai

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Blockchain.com reportedly exploring IPO this year

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CoinDCX raises over $135 million in fresh funding round, now worth $2 billion

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Atari terminates blockchain joint venture with ICICB Group

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Monero's July hard fork confirmed by its community

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Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange Coinberry

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US Govt Links North Korea to Axie Infinity Hack

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Jack Dorsey's first tweet NFT resells for only $280

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Opera crypto browser now available on iOS

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Beanstalk Stablecoin protocol loses $182 million in governance exploit

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Jack Dorsey vs. Vladimir Tenev on Bitcoin transaction fees

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Ripple claims 'a very big win' in SEC case

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Argentinian town to invest in crypto mining to fight inflation, upgrade rail infra

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Pantera Capital closing fundraise for its blockchain fund after raising $1.3 billion

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Homegrown blockchain co Polygon commits to go carbon neutral this year

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NBA registers four NFT trademarks

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US crypto expert jailed 63 months for helping North Korea

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Fortnite developer Epic Games raises $2 billion to build for the metaverse

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Indian companies storm the metaverse and NFT space

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Coinbase is producing a movie trilogy on Bored Ape NFTs

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Multiple Indian Twitter accounts hacked, NFT content posted

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German police shut down $1.3 billion illegal darknet firm

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Meta tests sale of virtual goods in metaverse

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Bitcoin 2022 Conference: Bitcoin Maximalists attack national currencies

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Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu Dhabi

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EU limits Russians' crypto investments to 10k Euros

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Coinbase suspends UPI payments in India three days after launch

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From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipe

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In Texas, crypto miners turn to solar power

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South Africa concludes technical Proof-of-Concept for its CBDC settlement system

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Terra buys $200 million in AVAX for reserves

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Bitcoin will remain as a standard: Chess world champion Garry Kasparov

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Coinbase launches in India

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Meta working on virtual money 'Zuck Bucks': report

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Germany closes Russian darknet marketplace Hydra

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Britain paves way to accept stablecoin

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Crypto industry reels from $600 million hack

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NFT of Nelson Mandela's arrest warrant auctioned for $130,000

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Bank of England calls for tighter regulation of cryptocurrencies

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ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctions

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Crypto provides fix for some in crisis-hit Afghanistan

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Bitcoin to the rescue: Cryptocurrencies' role in Ukraine

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Digital art in spotlight as Dubai makes crypto hub bid

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G7 looks to thwart cryptoassets use as Russian sanctions dodge

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Can cryptocurrencies give Russia, others breather from economic sanctions?

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Cryptocurrencies enter Russia-Ukraine conflict

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Russia seeks to regulate cryptocurrencies

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Donald Trump's NFT collection to laud his own presidency

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