KuCoin, OKX Stick to Their Hiring Plans Despite Downturn as Coinbase Slows Down Hiring

Source: AdobeStock / ijeab


Crypto exchanges KuCoin and OKX, say they don’t intend to make any main adjustments to their respective hiring plans, sustaining a gentle stream of recent job openings.

While the continuing downturn within the crypto market has pushed some main business gamers such as Coinbase to modify their earlier enlargement plans for this yr with regard to creating new jobs, another crypto exchanges appear to be pushing on with their set plans or intensifying them.

Johnny Lyu, CEO of KuCoin, informed Cryptonews.com that his alternate acknowledges the exceptionality of the present market scenario, however it doesn’t plan to introduce any main adjustments to its hiring technique for this yr.

The CEO said that the present scenario within the crypto market “actually differs from earlier bearish intervals in that it’s taking place in opposition to the backdrop of a world financial disaster.” Just as any financial system, mentioned he, inventory markets can by no means expertise long-term stability, and “intervals of value drops are as pure an incidence as intervals of development.”

Lyu said that,

“Therefore, we don’t plan to make any vital adjustments to our hiring plan for 2022. We are at present primarily targeted on sustaining and enhancing favorable working situations for our workers.”

This yr, KuCoin accelerated its world enlargement and is at present recruiting to fill a lot of worldwide positions, in accordance to the CEO.

The alternate is at present “recruiting many excellent worldwide skills,” with Lyu stating that the corporate understands the significance of those specialists for the platform’s future growth and person expertise. Therefore, he mentioned, KuCoin hires “skills throughout all verticals to increase our providers, enter new markets, and supply worth for extra customers.”

Based in Seychelles, the alternate says it has 18m customers in 207 international locations and areas.

Meanwhile, Linda Tse, Global Talent Acquisition Lead at OKX, informed Cryptonews.com that the alternate shouldn’t be planning to scale down its hiring plans for this yr in relation to the present market scenario.

“Quite the other. OKX goes massive on hiring as we increase globally. In addition to having elevated worker numbers considerably previously yr,  we’re wanting to develop our workforce by one other 30% within the subsequent 12 months,” Tse mentioned.

She said that the corporate is being “considerate” about hiring extra folks “to guarantee we onboard correctly,” including that “it appears like we’ll carry our complete world workforce to round 5,000 workers.”

Tse mentioned the important thing hiring areas for OKX within the coming twelve months included product design, engineering, and advertising and marketing.

In order to proceed to enhance person expertise, the alternate wants “enthusiastic folks in these areas,” she mentioned. “We’re additionally ensuring now we have members who can guarantee people who find themselves coming to crypto for the primary time have the help they want.”

OKX can be based mostly in Seychelles, serving some 20m customers from 200 international locations and areas.

A report launched by employment-oriented social media platform LinkedIn final month mentioned that the cryptocurrency business was intensifying its recruitment of recent workers, with crypto hires rising by a strong 73% between 2019 and 2021 within the USA particularly.

Meanwhile, going again to Coinbase, it has been reported that it determined to freeze hiring for 2 weeks. According to The Information, citing inside emails, the corporate informed its roughly 4,900 workers that it’s giving them extra inventory grants so as to offset half of the distinction between the grants it made earlier this yr and the inventory’s closing value on Friday final week. The firm inventory has fallen greater than 75% over the previous six months. 

The firm is introducing different cost-cutting measures as effectively due to the shrunken income, such as pausing new enterprise tasks and aiming to slash its cloud spending on Amazon Web Services.


Learn extra: 
Coinbase Slows Down Hiring Plans Amid Market Downturn, Lower Financial Results
– Crypto Hires on the Rise in US, More Women Hired however the Gender Gap ‘Is Getting Worse’

– KuCoin Valued at USD 10B
– KuCoin Launches USD 100M NFT Fund to Empower Artists, Lower Barriers for Users

– OKEx Rebrands to OKX as It Moves ‘Beyond Standard Centralized Exchange Model’
– OKEx and Huobi Tokens Try to Recover as Chinese Ban Takes Effect


Recommended For You

About the Author: Daniel