Changpeng Zhao, Binance's founder and CEO

Binance plans staff growth to 8,000 by year end, CZ says

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Binance, the world’s largest cryptocurrency exchange, wants to grow even bigger as it seeks to hire 600 more employees by the end of this year, its founder and chief executive officer said.

See related article: Binance denies UK lawmaker’s allegation it deliberately tripped up FTX

Fast facts

  • Changpeng Zhao (known informally as CZ) tweeted on Monday that the company aims to have 8,000 people on staff by the end of this year.
  • The exchange had about 5,900 employees in June and has over 7,400 at the moment, CZ wrote in his tweet.
  • Concerns persist over the dominance of Binance in the cryptocurrency industry, even more so after rival crypto exchange FTX collapsed earlier this month.
  • Last week, Zhao said at an Indonesia conference that Binance plans to set up an industry recovery fund and a global cryptocurrency association to “set very strong standards for the industry.”
  • Binance said last week in a written submission to the U.K. Parliamentary Treasury Committee that it did not deliberately seek to undermine rival FTX, but added the company’s financial irregularities led Binance to reduce its exposure. Binance’s announcement that it would sell its FTT token holdings was widely seen as contributing to FTX’s sudden collapse.

See related article: Binance says it will set up crypto recovery fund, industry standards group





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