KuCoin CEO turns down rumors about massive layoffs, which came after reports that they would soon pause withdrawals. It also goes in line with the reports of them suspending withdrawals somewhere in the future. All these steps would help KuCoin to survive the bear market and not go bankrupt. However, it looks like that is not the case, and KuCoin is actually planning to hire more staff for its operations.
KuCoin CEO on layoff rumors
Even major companies like Coinbase have laid off employees to shoulder the weight of the bear market. So, it wouldn’t have been any major surprise if KuCoin did the same. It would help them to cut expenses, reduce OPEX and improve their profits. But KuCoin has denied the rumors, and they are not going to join the list of companies laying off employees. On the contrary, they are continuously hiring and have 300 open positions in the company.
The CEO of KuCoin explained that they want to continue growing even i. this bear market. So, they are not only keeping their existing staff closer but are hiring new talent to expand at an outstanding pace. The exchange currently has 1000 employees, and considering that they are going to hire 300 more shows the current plans of expansion. Currently, new positions are available in marketing, tech, and compliance. You could also apply for these positions if you have the required skills and requirements.
KuCoin’s positions
The company has reported that they have not invested in Three Arrows Capital, Luna, UST, Babel, or any other affected companies or tokens. This has saved them from facing losses or going bankrupt. They also made it clear that they have no major products related to UST. It is because, despite the crypto winter, KuCoin is standing strong and has no plans to pause crypto withdrawals. Their trading volume is also strong, with more than $2 trillion combining both spot and futures. In fact, the exchange is growing on a 180% year-on-year basis.
What are your thoughts as KuCoin CEO turns down rumors about massive layoffs? And do you think that KuCoin will be able to make it through without laying off any employees? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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