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By year end, Binance wants to increase its employees to 8,000

The largest cryptocurrency exchange in the world, Binance, wants to expand even further and plans to bring on 600 new people by the end of the year, according to its founder and CEO.

The company hopes to employ 8,000 employees by the end of this year, according to a tweet posted on Monday by Changpeng Zhao, also known as CZ.

Approximately 5,900 people worked for the exchange in June, and there are currently over 7,400, according to CZ’s tweet.

Following the failure of competing cryptocurrency exchange FTX earlier this month, worries about Binance’s hegemony in the sector have increased.

At a conference in Indonesia last week, Zhao announced that Binance intended to create a worldwide cryptocurrency association and an industry recovery fund to “set very strong standards for the industry.”

In a written submission made last week to the U.K. Parliamentary Treasury Committee, Binance claimed that while the company did not intentionally try to harm rival FTX, the company’s financial irregularities had caused Binance to reduce its exposure. It was widely believed that Binance’s declaration that it will sell its FTT token holdings played a role in FTX’s abrupt decline.


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