FTX CEO Sam Bankman-Fried explained that the exchange will continue to “keep growing” during the bear market.

Amid unfavorable market conditions, some cryptocurrency-related firms decided to cut their workforce or freeze hiring. However, crypto exchange platform FTX will continue hiring new personnel as the crypto winter continues. 

In a Twitter thread, FTX CEO Sam Bankman-Fried explained that the exchange will continue to “keep growing,” explaining that they will onboard new staff just as they have done on the market’s better days.

Bankman-Fried noted that in February the company slowed down hiring. However, he said that this is not due to a lack of funds. The move was done to make sure that team members can have enough time to properly mentor new employees before adding more.

See also  Applications are open for the Blockchain Bootcamp 2021 for startups in Africa


Criticizing hypergrowth companies, Bankman-Fried underscored that hiring more staff quickly doesn’t equate to a substantial increase in productivity. “Sometimes, the more you hire, the less you get done,” he said. He explained that this is because rapid growth can make it very difficult to keep all staff “on the same page.”

Moreover, because FTX took its time and hired employees carefully since February, Bankman-Fried mentioned that the exchange can keep its hiring pace as it is “regardless of market conditions.”

See also  Nigeria still leads bitcoin P2P trading across Africa in Q1 2021

At the start of June, crypto exchange Gemini laid off 10% of its employees. According to a notice from the exchange, the move was due to the current “crypto winter.” Apart from Gemini, Coinbase also decided to slow down hiring back in May.

Back in 2018, the industry witnessed larger layoffs as the market went down. Crypto miner manufacturer Bitmain and crypto exchange Huobi confirmed that they fired employees amid the 2018 bear market. Apart from the two, blockchain company Consensys reportedly dropped around 60% of its staff before announcing the hiring of 600 employees in 2022.

150 thoughts on “FTX will not freeze hiring amid layoffs at other crypto firms, CEO states”

  1. Hi, Neat post. There is a problem with your site in internet explorer, would test this… IE still is the market leader and a good portion of people will miss your wonderful writing due to this problem.

  2. гостиница в трубчевске отель омега лазаревское
    кириши гостиницы гостиница жар мытищи восточное побережье крыма
    гостиница арена нижний тагил отель бургас сочи отзывы заплавье селигер официальный

  3. гостиница у светланы чебоксары пансионат старость в радость анапа
    санаторий углич отзывы гагры москва ливадия групп
    корона алтая база отдыха горный алтай курорты татарстана список приветливый берег геленджик цены

  4. хостел бугров нижний новгород база отдыха узола
    санаторий актер сочи официальный аквалоо сочи номера отели и пансионаты лазаревское
    самые дешевые путевки санатория дубовая роща железноводск санаторий для сердечно сосудистых заболеваний

  5. стоимость отдыха в карелии отель дюльбер евпатория отзывы
    априори отель санкт петербург малышева 42 а екатеринбург пицунда бзыбь
    алексин гостиницы кемерово гостиница томь загородный отдых в москве

  6. 67 параллель нарьян мар искра химки
    отель марриотт краснодар цены белокуриха какая область гостиница турист тимашевск
    дом отдыха в москве с бассейном отель гранд байкал байкальск янос ярославль официальный сайт санаторий

  7. отдых хочу на юга отзывы о санатории актер сочи
    норд отзывы программа юг россии санатории краснодарского края погода в коктебеле в сентябре 2021
    в абхазию на 3 дня москва крым туры с перелетом эдем брехово

  8. гостиница ольхон амра абхазия
    пансионат в лоо с питанием гостиница черный мыс сургут саки евпатория
    санкт петербург номера на гончарной отель чистые пруды адлер официальный сайт отель марриотт в казани

  9. гостиница ибис нижний новгород купить недвижимость в ессентуках
    геленджик отдых 2017 цены гостиница ибис в нижнем новгороде абаата гагра официальный сайт
    аксай гостиница акварель витязево официальный отдых в крыму все включено недорого

  10. анапа гостевые дома с бассейном гостиница россия в чебоксарах
    пансионаты в московской области с бассейном гостиницы приозерск дом отдыха газпрома в подмосковье
    снять гостиницу в краснодаре посуточно недорого пансионат лучезарный лазаревское прометей клуб официальный сайт цены

  11. санаторий казахстана плес пансионаты дома отдыха
    гостиница урал пермь сколько стоит путевка в санаторий в кисловодске стк туроператор
    ялта интурист веб камера онлайн реальное отели алушты все включено с бассейном отели черного моря все включено

  12. белый парус судак анапа гостевой
    санаторий красиво белгород лечение хобла отель в старой купавне
    гостиница в зубова поляна мордовия гостевой дом придворов краснодар углич санаторий ярославль официальный сайт

  13. лучшие курорты краснодарского края дублин дельфин анапа отзывы
    белокуриха хостел санаторий в заводоуковске анапа гостиница с бассейном
    курорт чайка курорты на букву к лечение кератодермии

  14. отель аквамарин севастополь отзывы палас отель сыктывкар
    краснодар ольгинка как добраться парк отель зеленый мыс алупка сочи пансионат эдем
    коктебель пансионат гостиницы сочи цены 2021 ноябрьские праздники 2021 в краснодаре

  15. I as well as my pals were reading through the great information and facts on the website while all of a sudden got a terrible suspicion I never thanked the blog owner for those strategies. All of the guys had been for that reason stimulated to read all of them and already have extremely been tapping into them. We appreciate you indeed being so accommodating and also for making a decision on this kind of very good resources millions of individuals are really wanting to understand about. My very own honest apologies for not saying thanks to you earlier.

  16. Please let me know if you’re looking for a author for your site. You have some really great articles and I think I would be a good asset. If you ever want to take some of the load off, I’d really like to write some articles for your blog in exchange for a link back to mine. Please blast me an e-mail if interested. Many thanks!

  17. I must show my appreciation for your kind-heartedness for people who really want help on this one study. Your very own dedication to getting the message along appeared to be particularly invaluable and have consistently allowed men and women like me to realize their dreams. This helpful advice means a great deal a person like me and further more to my office colleagues. Thank you; from everyone of us.

  18. Hello There. I found your blog using msn. This is a very well written article. I’ll be sure to bookmark it and come back to read more of your useful info. Thanks for the post. I will certainly return.

  19. fantastic points altogether, you just received a logo new reader. What would you recommend in regards to your submit that you made a few days in the past? Any positive?

  20. I am an investor of gate io, I have consulted a lot of information, I hope to upgrade my investment strategy with a new model. Your article creation ideas have given me a lot of inspiration, but I still have some doubts. I wonder if you can help me? Thanks.

  21. I do not even know the way I finished up right here, however I thought this put up was once great. I do not recognize who you might be however definitely you are going to a famous blogger if you happen to are not already 😉 Cheers!

  22. 539


    ### 539彩券,那是什麼來頭?


    ### 539開獎,是場視覺盛宴!


    ### 跟我一起玩539?


    ### 539開獎,那刺激的感覺!


    ### 最後說兩句


  23. Apoiar ferramentas de apostas e estar equipado com uma plataforma diversificada de transações financeiras, a 20Bet oferece suporte tangível aos jogadores. Este é um lugar onde eles podem apostar com dinheiro real, respaldados por concorrentes de diversas disciplinas esportivas. 20bet

  24. you’re really a good webmaster. The web site loading speed is amazing. It seems that you are doing any unique trick. Moreover, The contents are masterpiece. you’ve done a wonderful job on this topic!

  25. You made some respectable factors there. I appeared on the web for the problem and found most individuals will go together with together with your website.

  26. It’s the best time to make a few plans for the long run and it is time to be happy. I’ve read this put up and if I could I want to counsel you few attention-grabbing things or suggestions. Maybe you can write subsequent articles relating to this article. I desire to read more things about it!

  27. Thanks for sharing superb informations. Your web site is so cool. I am impressed by the details that you’ve on this site. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for more articles. You, my pal, ROCK! I found just the info I already searched all over the place and simply couldn’t come across. What a great web-site.

Leave a Reply

Your email address will not be published. Required fields are marked *