Binance plans to hire 600 people by the end of the year to bring its total workforce to 8,000

Binance, the world’s largest crypto exchange, plans to hire 600 more employees by the end of the year, according to the company’s CEO.

Changpeng Zhao (CZ) announced on November 21 that the company plans to hire 8,000 people by the end of the year.

CZ wrote in his tweet that the exchange had about 5,900 employees in June and now has over 7,400.

Concerns about Binance’s dominance in the cryptocurrency industry remain, especially after rival crypto exchange FTX collapsed earlier this month.

Last week, CZ stated at an Indonesia conference that Binance intends to establish an industry recovery fund as well as a global cryptocurrency association to “set very strong standards for the industry.”

Binance stated last week in a written submission to the UK Parliamentary Treasury Committee that it did not intentionally seek to undermine rival FTX but that the company’s financial irregularities caused Binance to reduce its exposure.