FTX Chief Sam Bankman-Fried Says Firm Will Continue Hiring As Others Cut Jobs Amid Crypto Winter

FTX Chief Sam Bankman-Fried Says Firm Will Continue Hiring As Others Cut Jobs Amid Crypto Winter

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FTX chief executive Sam Bankman-Fried says his exchange plans to continue hiring new people despite the crypto market downturn.

Bankman-Fried says FTX has focused on expanding its workforce in a slower, more sustainable way that ensures the company has a chance to properly train all of its new hires.

“A lot of reporters have reached out asking if we’re going to be scaling back. And our answer is the same as always: We’re going to keep pushing forward.

More will be joining than leaving, though — as always — we’ll make sure to add people at a sustainable rate. And, as always, we’ll make sure to uphold a high standard.

The amount each teammate can do is enormous. And while we expect a lot of each other, it’s incumbent on us to create an environment where people can thrive.”

The CEO also adds that FTX remains “strongly profitable” despite the market conditions.

A number of other major exchanges have announced hiring freezes or layoffs: Coinbase’s chief people officer, L.J. Brock, said last week the exchange planned to extend its pause on hiring new employees for the foreseeable future. Coinbase also rescinded a number of job offers they already made.

Additionally, Gemini recently announced it will be letting around 10% of its employee roster go due to crypto market and macroeconomic concerns.

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