Four companies are continuing to hire despite the plummeting cryptocurrency market.
Crypto exchange Coinbase recently revoked job offers made to many individuals before they had even started the roles then this week announced it is to lay off 1,100 staff to “ensure we stay healthy during this economic downturn”.
Smaller exchange BlockFi also revealed that it is to lay off 20% of its staff, affecting around 170 people.
However, fellow exchanges Binance and Kraken, along with layer 2 sidechain Polygon, are continuing to build.
Everstake, a Ukraine-based blockchain company, is also continuing to hire despite the crash triggered by Terra’s collapsed cryptos and the Russian invasion of its country.
The biggest decentralised staking provider, which has 625,000 users, made plans in the event of a bear market as well as the war.
“During the war in Ukraine, we hired more than 30 employees. At the moment, we have over 10 openings in marketing and dev,” Vlad Likhuta, head of growth, told BusinessCloud in an email.
CEO Sergey Vasylchuk tweeted that the company made preparations in advance for a “special fund”.
“An important part of doing business is assessing and addressing all potential risks,” he said. “We couldn’t help but expect another market crash simply because risk management dictates that one must always expect things to go south.”
1/8 I’m very sorry to hear that lots of our fellow crypto companies are forced to lay people off or at least freeze their hiring as long as bears reign supreme on the market. Despite that, @everstake_pool is not laying anyone off. And there’s a good reason for that.
— Sergey | Everstake 🇺🇦 (@sergattic) June 15, 2022
Everstake recently created a rap video to urge the crypto community to keep donating to charitable organisation Aid For Ukraine.