CryptoMediaClub
Monday, October 6, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

CZ Admits to Involuntary Terminations Within Binance But Disagrees With Reported Numbers

16.07.2023
A A
0
126
VIEWS
ShareShare

Several traditional media outlets reported recently that Binance, the world’s largest crypto exchange, has or will have to dismiss thousands of employees in the wake of its legal battle with US regulators.

The company’s CEO confirmed the layoffs but disagreed with the “FUD” reported numbers of terminated staff members.

CNBC, WSJ Reports

Citing a person familiar with the matter, the Wall Street Journal claimed on Friday that Binance had already dismissed over 1,000 people as it prepares for a lengthy and costly legal fight with US regulators.

Former company workers asserted that more layoffs will follow in the upcoming weeks, with the customer support team being hit the hardest.

“As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic. This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and expertise in critical roles,” – commented a Binance spokesperson.

CNBC took it a step further, indicating that the overall cut-offs within the exchange could reach 3,000, which is almost half of the firm’s reported employees.

ADVERTISEMENT

The media outlet’s source noted that the DOJ battle could change Binance “fundamentally,” as if the firm decides to settle, it could cost it billions of dollars.

CZ Confirms But Not Everything

Changpeng Zhao, CEO of Binance, started this year with a message for all of his followers that they should learn to ignore much of the FUD coming from traditional media outlets. In the next seven months or so, he had to use that phrase quite a lot.

When it came down to the layoff reports, CZ actually confirmed that his company had to undertake such actions, which he referred to as “involuntary terminations.” However, he said Binance is doing so as it strives for “talent density.”

Additionally, CZ strongly disagreed with the aforementioned number of laid-off employees.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter
All news

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter

06.10.2025
0

Mounting fiscal uncertainty in major economies is accelerating a shift into Bitcoin, gold, and silver, as investors brace for further...

Read moreDetails
Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

06.10.2025
Morgan Stanley Wealth Unit Advises 2% to 4% Crypto Allocation In Portfolios

Morgan Stanley Wealth Unit Advises 2% to 4% Crypto Allocation In Portfolios

06.10.2025
Russian Central Bank to Launch ‘Large-scale Audit of Nation’s Crypto Holdings’

Russian Central Bank to Launch ‘Large-scale Audit of Nation’s Crypto Holdings’

06.10.2025
US Government Shutdown Crisis: Financial Market Turmoil Intensifies, But Investors Flock to H Mining

US Government Shutdown Crisis: Financial Market Turmoil Intensifies, But Investors Flock to H Mining

06.10.2025
Load More
Next Post
Worldcoin’s World ID Project Surpasses 2 Million Users

Worldcoin’s World ID Project Surpasses 2 Million Users

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

US corporate interest in crypto strong despite implementation hurdles

US corporate interest in crypto strong despite implementation hurdles

2 years ago
PEPE Down 35% This Month, Yet 37% of Holders Haven’t Sold in a Year – Diamond Hands or Dead Wallets?

PEPE Down 35% This Month, Yet 37% of Holders Haven’t Sold in a Year – Diamond Hands or Dead Wallets?

3 months ago
Binance Dominates Crypto Liquidity with Largest Stablecoin Reserves: CryptoQuant

Binance Dominates Crypto Liquidity with Largest Stablecoin Reserves: CryptoQuant

4 months ago
BABYDOGE Quadrillion Burn to Reduce Supply: Bullish?

BABYDOGE Quadrillion Burn to Reduce Supply: Bullish?

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Russian Central Bank to Launch ‘Large-scale Audit of Nation’s Crypto Holdings’

US Government Shutdown Crisis: Financial Market Turmoil Intensifies, But Investors Flock to H Mining

XRP Price Prediction: $3.12 Breakout or New Decline? What’s Next?

Solana Price Prediction: Why Slowing Network Growth Could Limit SOL’s Bullish Potential in the Short Term

Bitcoin Price Prediction: After ATH, Only $128,000 Stands Between BTC and an Exponential Rise to $160,000

XRP Price Prediction: CLS Mining Enables XRP Holders to Seize Market Opportunities

Trending

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter
All news

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter

06.10.2025
0

Mounting fiscal uncertainty in major economies is accelerating a shift into Bitcoin, gold, and silver, as investors...

Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

06.10.2025
Morgan Stanley Wealth Unit Advises 2% to 4% Crypto Allocation In Portfolios

Morgan Stanley Wealth Unit Advises 2% to 4% Crypto Allocation In Portfolios

06.10.2025
Russian Central Bank to Launch ‘Large-scale Audit of Nation’s Crypto Holdings’

Russian Central Bank to Launch ‘Large-scale Audit of Nation’s Crypto Holdings’

06.10.2025
US Government Shutdown Crisis: Financial Market Turmoil Intensifies, But Investors Flock to H Mining

US Government Shutdown Crisis: Financial Market Turmoil Intensifies, But Investors Flock to H Mining

06.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz