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
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