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With many of the world's top crypto companies cutting staff during the bear market, Binance does not appear to be affected and is continuing to expand hiring.
Binance Plans to Expand
The drop in cryptocurrencies tied to intimacy with the stock market has created a distinctly negative sentiment throughout the financial space. However, contrary to the crowd, Binance CEO Changpeng Zhao believes that “crypto winter” is the best time to expand operations.
At the Consensus 2022 conference that was held from June 9 to June 12, the CEO of Binance revealed that now is the right time for the exchange to increase investment in HR talent and make acquisitions, despite the market turmoil. He stated that Binance is achieving a high rate of merger and acquisition activity.
“We have a very good and resilient team. Binance is expanding recruiting at the moment.” CZ said.
» Crypto firms across the board are laying off employees and freezing hiring. Why is Binance the exception? | Fortune https://t.co/7h7NUpctrX
— CZ 🔶 Binance (@cz_binance) June 14, 2022
CZ's Vision Keeps Binance Afloat
According to Mr. Changpeng Zhao, Binance has been cautious when pouring money and staying away from large advertising expenditures such as the Super Bowl event - which became a "great advertising war" between crypto exchanges in February 2022, as reported by Andrew Marquardt from Fortune.
Many of Binance's competitors have successively signed sports sponsorship deals across major continents. Crypto.com is a platform that has spent a lot of time on marketing to promote its name through sports. Besides sponsoring many clubs and sports organizations worldwide, the company invested $ 700 million in December 2021 to rename the Staples Center stadium in Los Angeles to Crypto.com Arena.
In addition, during this time, Coinbase has signed on as an official partner of the National Basketball Association(NBA), signed a brand ambassador agreement with NBA star Kevin Durant, and partnered up with numerous major esports organizations.
During the recession cycle, many companies mentioned above stopped hiring new employees and even proposed to terminate some existing employees. On June 14, Coinbase CEO Brian Armstrong posted an announcement on June 14, saying he would cut more than 18% of the company's staff, equivalent to about 1,100 employees.
Meanwhile, Crypto.com has just cut 260 employees, and up to 20% of employees have to say "goodbye" to BlockFi. Only FTX and Binance are still financially strong enough to stand on the market.
Five winners in this bear market. Am I missing anyone?
— Frank Chimparro (@fintechfrank) June 14, 2022
- FTX/Alameda
- Justin Sun
- Binance
- a16z
- Paradigm
Everyone else is very rekktd.
Finally, in addition to increasing staff recruitment, Binance is also planning to promote investment in various traditional companies, mainly starting from "inspiration" with an investment of 200 million dollars to Forbes magazine to popularize the use of blockchain technology. It will be done through Binance Labs' latest $500 million investment fund.
What is Binance:
Binance is the world's largest cryptocurrency exchange, founded in Shanghai, China, by Changpeng Zhao (CZ). Binance supports over 740 trading pairs on its platform.
With a low transaction fee (0.1%) as well as fast transaction processing, Binance has become the exchange with the largest trading volume in the cryptocurrency market. Binance exchange's technology can process 1.4 million orders per second, making it a top exchange in terms of the trading volume.
Where to find Binance:
Website | Twitter | Discord | Telegram |
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Time Running Out for BNB? Why Investors Are Moving from BNB to $NUGX

Investors are turning to NuggetRush (NUGX), a mining project offering a unique mining adventure game with potential rewards.
TLDR
- BNB faces potentially reduced investor sentiment following Binance Exchange’s links to money-laundering activities.
- Binance’s founder and former CEO, Changpeng Zhao, has already resigned.
- NuggetRush (NUGX) offers high entertainment and community collaboration in its mining adventure game.
Binance Exchange has been involved in money laundering scandals as of late, leading to the resignation of its founder as CEO. Analysts say the controversy would likely increase negative sentiment for BNB.
Disappointed BNB holders are now turning to NuggetRush (NUGX), a mining project whose ongoing presale has risen by 30%. NuggetRush (NUGX) offers various rewards, including the opportunity to win real gold.
Yet, can this make it the best option out of available new ICOs? Let’s discuss.
BNB November Gains Undone By Money Laundering Scandal
The bullishness in the crypto market in November increased investor sentiment for several networks. Like many top altcoins, BNB started November with a rally.
Yet, BNB’s investor sentiment dropped sharply following Binance’s controversial involvement in money laundering schemes. On November 28, Changpeng Zhao resigned as CEO of Binance due to negligent behavior toward money laundering activities.
BNB’s decline has undone all its November gains. At the start of November, BNB was trading at $228.00, By November 20, BNB had jumped by 11.24% to $253.64. BNB dropped $229.30 by December 2, a few days after Changpeng’s resignation.
Binance is among the most active exchanges, with a daily trading volume of over $50 billion. Still, the recent controversy around money laundering activities has reduced its social sentiment.
Many investors are pulling their funds off Binance, which has pushed its withdrawals over $1 billion. Analysts expect this trend to continue in the short term. This could worsen BNB’s prospects, dropping it by 15.8% to $213.45.
NuggetRush: Round 3 Growth Stuns P2E Experts.
NuggetRush is a mining game with strong potential to become one of the most popular NFT projects. The game features a mining rush, where players will mine rewards like gold. NuggetRush offers a challenging environment that features the day-to-day life of artisanal miners.
Players will dig shafts, set up tunnels, and use several real-world soil sampling techniques. The main goal is to set up a booming mining business. Players will find and excavate material rewards. In return, NuggetRush (NUGX) will give players NFT characters and mining equipment.
The game will also reward players with in-game currency. Players can then invest this in-game currency into upgrading their player characters and machinery. This gives them higher value, which players can realize on NuggetRush's (NUGX) marketplace.
Finally, NuggetRush offers NFT staking, thus allowing players to earn money from holding their assets. This further increases earning opportunities for NuggetRush members.
NuggetRush's blockchain ICO has grown by 30% since its launch. In the first round of NUGX's presale, its value was $0.010.
By round three, NUGX's value had risen to $0.013, growing by 30%. The next round of NUGX's presale would boost its value by 15.3% to $ 0,018. Furthermore, NUGX will get listed when its value reaches $0.020.
Visit NuggetRush Presale Website
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $275. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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