Changpeng Zhao, popularly known as “CZ” is the Chief Executive Officer(CEO) and founder of one of the largest cryptocurrency trading platforms and exchanges; Binance. The Chinese-Canadian businessman in a tweet published Wednesday, June 15 on Twitter gave insight that the exchange has decided to fill up 2000 positions amid the current bear season in the Cryptocurrency market.
The self-made Chinese-Canadian billionaire in a subsequent thread of tweets added that many cryptocurrency projects would have a difficult time navigating through the hurdles presented by the bear market, factoring in the fact that industries grow when a few new projects spring up after previously failing, bringing critical learning part of the acquired experiences.
CZ threw more light on the experiences which have been gathered by the Binance Exchange through the years and through previous bear market cycles, it was made known that the exchange was having its fair share of the market effect but was taking its time to introspect and get prepared to fully maximize to full potential, the next bull market
BINANCE AND FINANCIAL STRENGTH
The Cryptocurrency Exchange; Binance with its decision to hire for 2000 positions seems not affected by the fall in the price of cryptocurrency and transaction rate over the past months. A lot of other exchanged and crypto firms have seen job slashes, as was seen with COINBASE who laid off about 1100 employees due to bearish market conditions.
Binance was founded in 2017 by Changpeng Zhao and registered in Cayman island and is registered in the Cayman Islands.
The cryptocurrency exchange is believed to be guaranteed safety when it comes to exchanges. Through some safety features of the exchange, users are allowed a Two-factor authentication (2FA).
The crypto exchange has had its downtimes and a major hack that resulted in the theft of 7000 Bitcoins.
Binance has its crypto token (BNB) and offers users a massive amount of crypto-to-crypto trading options with over 500 cryptocurrencies, and tokens, and recently in June 2021 launched its NFT marketplace; Binance NFT. These Cryptocurrencies include:
• Ether (ETH)
• Litecoin (LTC)
• Dogecoin (DOGE)
As of April 2022, Binance’s estimated market value ran up to $92.5 billion, making it rank high among other private technology companies like SpaceX by Elon Musk, TikTok, etc. The tech and crypto company has expanded over the years into various regions and related industries, making it one of the busiest Cryptocurrency Exchanges on the Blockchain.