Binance, the world’s largest crypto-exchange, wants to expand even further and plans to bring in 600 new people by the end of the year. The company hopes to have 8,000 employees by the time 2023 rolls around, according to a tweet shared by CEO Changpeng Zhao. According to the exec, over 7,400 people currently work […]
Understandably, following the failure of FTX earlier this month, worries about Binance’s hegemony in the sector have increased.… Due to a token called FTT. In essence, the corporation offered FTT as a share in FTX, which it then pledged to repurchase with a fraction of its future revenues. However, according to documents published, the group’s hedge fund, Alameda, was utilizing FTT to make hazardous loans, basically trading with company stock.
At a conference in Indonesia last week, Zhao announced that Binance intends to create a worldwide cryptocurrency association and an industry recovery fund to “establish extremely strong rules for the sector.” “Every action of CZ will play the most significant part in rebuilding confidence in this market, and vice versa; if he makes any mistakes, it will be a massive red disaster for this entire market.”Earlier this month, Binance announced that it had been granted Financial Services Permission by the Financial Services Regulatory Authority of Abu Dhabi Global Market .
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