Cryptocurrency exchange Binance allegedly laid off more than 1,000 employees, according to the report by the Wall Street Journal.
In response to this, CZ described the news as FUD and stated that the figures do not reflect the truth:
“There are involuntary layoffs as we continually strive to increase our talent concentration. This happens in every company. The figures reported by the media are all very wrong. 4 FUD.
The good thing is, they can’t stop talking about us.
We are still recruiting.”
According to the WSJ’s claim, a Binance spokesperson said:
“As we prepare for the next big bull cycle, it has become clear that we need to focus on talent concentration across the enterprise to ensure we remain agile and dynamic. It is not a downsizing, but rather a reassessment of whether we have the right talent and expertise in critical roles.”
The company has approximately 8,000 employees worldwide.
*Not investment advice.