Bitfinex Isn’t Cutting Jobs Like Other Crypto Asset Exchanges


Bitfinex and Tether, which share a parent company, have no plans to downsize, unlike many of their rivals. Each of the companies says they are trying to hire a lot of people in the current market downturn. Bitfinex is consistent in taking a stand on over-acquisition of talent and resources in a measured and organized way. The company has a variety of career opportunities that the trade seeks to fill, and their hiring plans remain intact, according to Claudia Lagorio, chief operating officer at Bitfinex, told The Block when contacted about plans for company staff.

Lagorio went on to mention that Bitfinex has never employed as many staff as reduced during a crypto winter. It is additional that the crypto exchange operator is profitable and can always hire talent when needed.

Bitfinex Rivals Removed Many Roles

Bitfinex rivals recently cut jobs in burning crypto markets including Coinbase, Gemini, Bybit, BitMEX and In the past 2 months, at least 1,500 people have lost their jobs in the crypto space, according to The Block recently.

Bitfinex sister company Tether, a stablecoin issuer, is also trying to feature staff. It remains business as usual with Tether, according to a Tether interpreter. Tether is profitable and can always hire key positions to support its business. Each sister company cares about their employees and their future, they have never reduced their number of employees even in past crypto winters and will not at any time.

Bitfinex and Tether don’t just recruit companies

the current total number of Bitfinex and Tether is 250, as is Lagorio. Of that number, fifty people work for Tether, the Tether spokesperson said.

As job cuts become common in the crypto house and elsewhere, Bitfinex and Tether don’t appear to be the only companies trying to hire people under current market conditions. Crypto exchange Binance currently has over 900 open positions, according to its website. Last week, business executive Changpeng Zhao tweeted that Binance plans to hire 2,000 people globally.

Crypto exchange Kraken recently announced plans to increase the number of employees by over five hundred people. Earlier this month, the CEO of FTX, the Bankman-Fried Guided Missile, tweeted that the company was not considering a hiring freeze. And polygon shape co-founder Sandeep Nailwal recently told The Block that the company is aggressively hiring amidst all the chaos.

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