Looking For A Job in Crypto? Now May Not Be the Best Time


With ongoing layoffs and hiring freezes, prospective hires need to reconsider their strategy in the face of what could become the most brutal crypto winter ever.
Crypto Winter
In what is without a doubt a brutal bear market, you may need to put a pause on your crypto job hunting.
Over the last two years or so, the crypto ecosystem has seen a boon in funding rounds, increased mainstream adoption - and jobs aplenty for anyone with a transferable skill set. From software development to marketing, every project, investment firm, and crypto exchange was in rapid expansion mode.
But, like all things, the crypto markets are cyclical and make no mistake, the crypto winter has arrived.
For those looking to make the leap into crypto full time, it’s time to consider that it may no longer be the right time to give up your current post. Just consider for a moment the following: Coinbase, one of the largest crypto exchanges and a publicly listed company on the NASDAQ, has laid off a staggering 18% of its workforce.
“Given what’s happening in the economy, it feels like the most prudent thing to do,” Coinbase COO Emilie Choi said in an interview with Kate Rooney of CNBC.
Coinbase even rescinded a number of job offers to incoming employees who by all accounts very likely quit their previous employment.
“Our employee costs are too high to effectively manage this uncertain market…it is now clear to me that we over-hired,” Coinbase Founder and CEO Brian Armstrong added.

Not to single Coinbase out, other exchanges were also eliminating positions. BlockFi CEO Zac Prince took to Twitter to discuss the platform’s layoffs
“Like many others in Tech, we’ve been impacted by the dramatic shift in macroeconomic conditions, which have had a negative impact on our growth rate,” Prince said in the thread.
BlockFi intends to reduce its staff numbers by 20%.
Twitter seems to be the medium by which crypto founders and CEOs like to communicate their messages on the subject. Crypto.com CEO Kris Marszalek posted a thread where he discussed a reduction of 5% to the staff base. Some Twitter users responded by pointing out the enormous amounts the company had spent on marketing would pay for the lost jobs.
Binance Bulls
Interestingly, on the flip side of all of these layoffs, Binance seems to be bulldozing along. Binance CEO Changpeng Zhao (CZ) posted a tweet citing an article by Fortune about Binance being the exception to the market. CZ spoke to these sentiments at the Consensus 2022 conference in Texas last weekend, which is where the article sourced the quotes.
“We have a very healthy war chest; we in fact are expanding hiring right now…If we are in a crypto winter, we will leverage that, we will use that to the max,” CZ is cited as saying in the piece by Andrew Marquardt.
Binance of course has been quite busy in its expansionary efforts opening access to its services across Europe, the Middle East and South America. You may recall license acquisitions in Dubai, Bahrain, Brazil, and many other locations.
Of course, there are other contributing factors to Binance’s atypical approach to the colder market as well. Remember when Crypto.com spent $700 million on the naming rights of the arena where LeBron James and the Los Angeles Lakers play? Many crypto-centric companies made enormous financial decisions like this during the peak of the last cycle. Binance, however, stood pat on the sidelines - and it seems to be paying off.
Working Things Out
Ultimately, it all comes down to risk tolerance. The same tolerance you currently have when looking at your portfolio will help you decide whether now is the time to make the leap into crypto full time. Whether you are seeking out freelance work or career advancement, navigate the terrains of this space carefully because anything can happen.
If you are intent on looking for work in the space, check out our jobs page where you can find all types of crypto-related work. Happy hunting!
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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


Gyrowin: Revolutionizing Gaming and DeFi with Cross-Chain Innovation

Powered by its native token GW, Gyrowin combines the excitement of lottery games with the security and transparency of decentralized finance to offer users exciting rewards.
Gyrowin, a groundbreaking cross-chain decentralized gaming, liquidity, and asset management platform, is making waves in the world of blockchain technology and DeFi. With a mission to provide transparent and fair reward distribution, Gyrowin is set to redefine how players engage with lottery games and DeFi protocols. Let's delve into the key aspects of this innovative project.

Lottery Games for Fun and Profit
Gyrowin recognizes the enduring popularity of lottery games and is capitalizing on it. Offering a range of lottery games integrated with staking, lending, and borrowing protocols, Gyrowin allows players to have fun while winning. The platform operates game liquidity pools on major chains like BNB Chain, Polygon, Tron, and Solana, offering a diverse gaming experience.
The platform’s variety of cross-chain lottery games include the 6/41 Lottery, Gylotto, 5/9 Lottery, 10 minutes Lottery, and Instant scratch NFT Lottery. This cross-chain approach ensures accessibility and inclusivity for players across the crypto landscape.
Tokenomics
At the heart of the Gyrowin ecosystem lies its native token Gyrowin ($GW), designed to serve multiple functions, including governance voting, liquidity currency, and incentives for DeFi users. The token structure is meticulously balanced, with allocations for various purposes, including liquidity, reserve, marketing and more, ensuring a sustainable supply-demand ratio. Notably, Gyrowin implements a burning mechanism and regular buybacks to maintain token value. Learn more about the token distribution and allocation here.

Borrowing and Lending with Ease
Gyrowin offers a cross-chain DeFi platform for borrowing and lending tokens across multiple chains, introducing unified liquidity pools that provide higher APR for lenders. Users can borrow from different chains seamlessly, eliminating the need for collateral bridging. The platform also offers zero liquidation on collateral, enhancing user security.
Decentralization and Transparency
The platform places a strong emphasis on decentralization and transparency. Leveraging Chainlink oracle VRF for automation and accurate token price information, Gyrowin ensures fair lottery draws and automated lotteries. The platform also utilizes blockchain infrastructures like The Graph and layer zero for a seamless cross-chain experience.
Money Plant Staking and Freeze Lock
Gyrowin's staking process is designed to be competitive and rewarding for participants. Using a first-come, first-served approach and limiting staking amounts, Gyrowin offers higher yields in a short period. The platform’s innovative Freeze lock feature ensures that unlocked tokens are only available for use after a cooling period, providing additional security.
Smart Contracts and Audits
Security is a top priority for Gyrowin. The project's smart contracts have undergone thorough audits by leading security providers such as Hacken and Solidproof, ensuring the highest level of safety for users' assets.
Gyrowin is a game-changer in the blockchain and DeFi space, combining the excitement of lottery games with the security and transparency of decentralized finance. With its innovative approach to cross-chain functionality, governance tokens, and staking, Gyrowin is set to reshape the future of gaming and DeFi.
Stay updated with Gyrowin and its development via the official links:
Website | Twitter | Telegram | Docs
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 $400. 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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