Bitget to Increase Its Global Workfoce despite Global Crypto Layoffs

Bitget, a major cryptocurrency platform, announced on Thursday that it plans to double its global workforce despite the crypto winter and amid the layoffs seen in other crypto companies across the sphere.

According to the press release, the firm plans to hit 1,000 headcounts in the next six months and highlighted the ongoing headcount reductions seen in major crypto exchanges amidst the downward trend in the crypto market. It implies adding 500 new employees by the end of the year, mostly focused on the product development and customer service departments.

“Earlier this year, we announced our derivatives trading volume had reached an all-time high of $8.69 billion in March 2022. In the last 12 months, our trading volume grew by over 10 times, a notable achievement unlocked. Moreover, our user base also grew significantly to two million users worldwide,” Gracy Chen, the Managing Director of Bitget, commented.

She added: “Of course, we were also eager to expand our team to cater to the rapidly growing market needs. However, we decided to adopt a more prudent approach right from the get-go. By scheduling frequent meetings with our global and regional teams to understand where resources are needed, we were able to systematically and effectively carry out strategic hires. As we continue to endure the crypto winter, it will be a perfect opportunity for us to attract talent in the market and strengthen our foundation, prioritize growth and be prepared to welcome the next round of crypto adoption when the market regains strength.”

The crypto exchange inked in February a new sports sponsorship with the popular Turkish football club, Galatasaray. Bitget agreed at that time to sponsor the football club for the rest of the season. Capital Sports Media Group brokered the deal, but none of them revealed the amount involved.