Cryptocurrency exchange KuCoin has said it has no plans to lay off employees.
On the contrary, the company intends to hire up to 300 more people soon, KuCoin CEO Johnny Liu wrote on Telegram. Thus, he refuted reports spread in social networks and the media about the plans of the company's management to optimize costs in a bear market.
Many crypto companies were forced to lay off some of their employees and freeze some projects to reduce costs. In June, for example, it became known about the dismissal of workers from Crypto.com, Gemini, and other exchanges.
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Johnny Liu stressed that his team has no plans to cut staff. On the contrary, it has enough financial resources to hire new managers and developers and direct them to expand the business.
According to the KuCoin CEO, the company employs more than 1,000 people, and the team will be taking on board another 300 employees soon. They will work in departments that develop and promote products.