Binance plans new round of layoffs amid increased regulatory scrutiny

A fresh headcount decrease is coming to crypto exchange Binance, which is supposedly preparing to lay off 20% of its labor force in June. On Twitter, Binances chief strategy officer Patrick Hillmann hinted the reorganization is meant to deal with growing regulative pressures targeting the crypto area:” Regulators in nearly every significant market are likewise working overtime to provide higher clarity for their expectations of the property and the market class more broadly, which is putting even more pressure on orgs to fall or adapt by the wayside. Crypto community members rapidly reacted to the news, reviving Zhaos previous tweets about crypto exchange layoffs.Screenshot: Changpeng Zhao, CEO of Binance, cautions users on Twitter on Nov. 30, 2022.

A fresh headcount reduction is coming to crypto exchange Binance, which is supposedly preparing to lay off 20% of its workforce in June. On Twitter, Binances chief strategy officer Patrick Hillmann hinted the reorganization is indicated to address growing regulative pressures targeting the crypto space:” Regulators in nearly every significant market are likewise working overtime to offer greater clearness for their expectations of the market and the asset class more broadly, which is putting even more pressure on orgs to adapt or fall by the wayside. Crypto neighborhood members rapidly reacted to the news, restoring Zhaos previous tweets about crypto exchange layoffs.Screenshot: Changpeng Zhao, CEO of Binance, warns users on Twitter on Nov. 30, 2022.