Binance CEO CZ gave a statement Regarding Allegations of Binance Layoffs

Following the publication of the report on the layoffs, Binance CEO Changpeng Zhao issued a formal statement on Twitter.

According to the article by the Wall Street Journal, the cryptocurrency exchange Binance is reported to have terminated the employment of more than one thousand of its staff members.

CZ’s reaction to this was to label the news as false and misleading information (FUD), and to say that the data do not represent the truth:

“Because we are always working to enhance the number of opportunities available to our most talented employees, there will be some involuntary layoffs. This is something that occurs in every firm. The fact that they can’t stop talking about us is a positive development. We are currently taking applications.”

A spokeswoman for Binance was quoted in the WSJ as saying the following: “As we get ready for the next major bull cycle, it has become abundantly evident that we need to place a primary emphasis on talent concentration throughout the company in order to guarantee that we will continue to be both flexible and dynamic. It is not a reduction in staff size; rather, it is a reevaluation to determine whether or not we have the appropriate level of knowledge and skill in key positions.” Across the globe, the organisation counts roughly 8,000 people as workers.

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