Blockchain.com Gears Up for Growth: New SVP, 25% Workforce Expansion, and Global Ambitions

Exciting news in the crypto space! After navigating a challenging start to 2023, it looks like Blockchain.com is not just back on its feet, but sprinting forward. The crypto wallet giant is making headlines with significant expansion plans, signaling renewed confidence and growth in the digital asset market. What’s on the horizon for Blockchain.com? Let’s dive into the details.

Blockchain.com is on a Hiring Spree – Why Now?

Remember the wave of layoffs that swept through the crypto industry at the beginning of the year? Blockchain.com was among those who had to make tough decisions, reducing their workforce by 28%. Fast forward to the present, and the narrative has completely shifted. The company is not only recovering but actively expanding, aiming to increase its workforce by a substantial 25% in the first quarter of 2024. This is a powerful indicator of positive momentum and strategic growth. Why the sudden turnaround and aggressive hiring?

• Positive Market Signals: The crypto market has shown resilience and signs of recovery in recent months, potentially fueling Blockchain.com’s confidence to expand.
• Strategic Funding: Securing a $110 million Series E funding round, even at a reduced valuation, provides the financial muscle for expansion and new hires.
• Capitalizing on Market Shifts: Becoming the go-to platform for SoFi’s crypto customers after their exit presented a significant opportunity to grow their user base and assets under management.

Meet the New SVP: Curtis Ting – What Does He Bring to the Table?

To spearhead this ambitious growth phase, Blockchain.com has brought in a seasoned leader, Curtis Ting, as their new Senior Vice President of Business Operations. Ting’s resume speaks volumes, boasting over five years at Kraken, a leading crypto exchange, where he focused on global expansion strategies. Prior to his crypto journey, Ting spent eight years at the FBI, bringing a unique blend of experience in security, compliance, and international operations. What will Ting’s role be?

• Global Expansion Expertise: His experience at Kraken in navigating international markets will be invaluable as Blockchain.com eyes expansion into new territories.
• Strategic Hub Development: Ting is tasked with establishing Blockchain.com’s new hub in Paris, a key part of their European expansion strategy.
• Setting up Local Entities: He will be instrumental in establishing new local entities across Europe, ensuring compliance and localized operations.

Global Expansion: Nigeria, Turkey, and Paris – What’s the Strategy?

Blockchain.com’s ambitions are clearly global. Beyond strengthening their European presence with the Paris hub, reports indicate they are also targeting expansion into Nigeria and Turkey. These are significant and diverse markets with growing crypto adoption. What could be driving these specific expansion choices?

To support this expansion, Blockchain.com is actively hiring. A job posting for a Talent Acquisition Manager in Paris signals their commitment to building a strong team in the new hub. Furthermore, job listings in Vilnius (Lithuania), Dallas (TX), Singapore, and London demonstrate a widespread hiring effort across their global offices. You can check out their job postings to explore opportunities.

See Also: NFT Trader Hacked, Hacker Stole NFTs Worth Millions Of Dollars

Other Notable News in the Crypto Sphere

While Blockchain.com’s expansion is a major highlight, other interesting developments are unfolding in the crypto world:

Reflexivity Research’s Expansion Plans

Will Clemente, co-founder of crypto research firm Reflexivity Research, has announced a “major 2024 expansion” and is actively seeking to hire research analysts. This indicates growing demand for in-depth crypto market analysis and research, further highlighting the industry’s maturation.

Reflexivity Research is planning a major 2024 expansion and looking to hire multiple research analysts. pic.twitter.com/wH5Q1275j7

— Will Clemente III (@WClementeIII) December 13, 2023

Ankex Exchange Shuts Down

In contrast to the positive expansion news, there’s been a setback. Ankex, a crypto exchange founded by Michael Moro, former CEO of Genesis Global Capital, has paused development and shut down. This comes shortly after Genesis faced liquidity issues and bankruptcy post-FTX collapse. Ankex, which was reportedly ready for a public beta launch, announced the halt on its website, stating, “We are very grateful for everyone’s support and participation. Unfortunately, we are very sad to communicate that we have to pause our journey at this stage.” Moro’s LinkedIn and X profiles reflect his departure from the CEO role. Ankex’s parent company, Qredo, had also reportedly laid off 50 employees in November, suggesting broader challenges within the organization.

See Also: Google Releases Gemini Pro For Developers And Enterprises

Qredo laid off 50 employees around Nov 1st. https://t.co/WhatLayoff/status/1719877183034855661?s=20 pic.twitter.com/3Q18W3bY5V

— Layoffs Tracker 🎯 (@WhatLayoff) November 2, 2023

In Conclusion: A Mixed Bag of Signals, but Growth Prevails

The crypto industry continues to be a dynamic and evolving landscape. While Ankex’s shutdown serves as a reminder of the inherent risks and volatility, Blockchain.com’s ambitious expansion plans and Reflexivity Research’s growth highlight the underlying resilience and future potential of the crypto space. Blockchain.com’s strategic hiring and global expansion are strong indicators of confidence and a bullish outlook for 2024 and beyond. Keep an eye on these developments as they unfold – it’s shaping up to be an exciting period for the crypto world!