BREAKING NEWS

04.July 2022

Crypto Employees Sacked By Their Bosses Can Find Jobs With This U.S. Agency

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In the ongoing crypto pandemonium, workers are losing their jobs, but Financial Industry Regulatory Authority CEO and President Robert Cook took to Twitter to announce job opportunities for those who got fired.

“Anybody getting laid off from a crypto platform and wants to work for FINRA, give me a call,” Cook said.

The digital currency market has been erratic, triggering massive layoffs. Now, financial regulators like FINRA have decided to step up and hire as many unemployed people as possible.

FINRA announced on June 14 its strategic plans to better understand the digital currency space by hiring experts who have been unemployed due to the extensive layoffs of many exchanges like Gemini, Crypto.com, Coinbase, BlockFi, and Robinhood.

These companies had to give the pink slip to more than 20% of their staff aggressively, and FINRA plans to absorb the terminated employees to strengthen further their capacity to monitor the virtual space.

FINRA is bulking up and hiring talents who know the ins and outs of the crypto ecosystem and can help them conduct verification of digital assets.

The agency currently has more than 3,600 employees. Companies registered or affiliated with FINRA are authorized to perform stocks and crypto trading on behalf of their clients.

Cook said the private regulatory firm is currently building cross-market surveillance and digital asset verifications on a couple of blockchains which means hiring people from the bitcoin space can speed up their process.

Crypto.com CEO Kris Marszalek announced on June 10 their plans to terminate over 260 employees to ensure the company’s long-term sustainability. Coinbase also laid off around 1,100 employees, and Gemini wishes to do the same, cutting off 10% of its people.

On the other hand, Binance CEO Changpeng Zhao announced that the company is open to hiring more than 2,000 people. Kraken is also making the same move and hiring new manpower for the company.

The crypto crash seems to have dragged many bitcoin companies into the mud. Collapses in the crypto economy have been predictable. The terminations may have been rampant, but Binance is doing the opposite as it hired more crypto experts from FINRA.

Binance has a different sustainability or growth strategy and aims to empower and hire more people, especially in these challenging times.

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