Amid Layoff Season, Bit.com Plans to Hire and Increase Workforce

Amid a biting market downturn that has severely impacted revenue, forcing massive layoffs across the board, Bit.com plans to hire more crypto experts, specialists and add them to their fold.

In a recent tweet, Bit.com, a cryptocurrency exchange launched by Matrixport, said they are taking advantage of the crypto winter to double its workforce. This coincides with a massive human resource policy change in some pressured top crypto firms, including Coinbase and BlockFi, who have resorted to freezing hiring for the time being.

Despite uncertainties gripping the broader financial markets, Bit.com, contrary to expectations, has been on a hiring spree since the beginning of this year, adding and onboarding resources within the shortest time possible following the layoffs. The exchange is now tapping top talents and reinforcing every facet of its product offering.

Lan Yue, Bit.com’s Chief Operating Officer, said that despite crypto prices retracing from 2021 peaks, forcing some traders offline, there had been no significant effect on their vision-mission statement. He reiterated that the firm is well buffered. Yue further added:

Bit.com has been hiring and growing aggressively since the beginning of 2022. The recent collapse of the market has had no direct impact on our original runway; we have the capacity to stick to our developing and hiring plan. Bear markets may bring our users negative sentiment. It also brings us time to strengthen our product and risk management for the next bull market.

While the market is downtrading, Bit.com continues to add more products and retains high liquidity across its offers. Earlier, the exchange announced the listing of Staked ETH (stETH) on its spot and perpetual futures markets, becoming the first exchange to support the token.