Binance is willing to accept voluntary resignations

Binance is said to be willing to do so accepts Voluntary termination of employees. The offers, which were recently sent out according to influencer and cryptoanalyst Adam Cochran, allow employees to resign, sign a new non-disclosure agreement (NDA), and receive a severance package with three months’ salary.

It is unclear why Binance CEO Changpeng Zhao made this choice, but reports indicate that employees from different departments can opt for voluntary termination. Those wishing to accept such offers are said to be required to leave immediately.

With an extended crypto winter and regulatory uncertainty in many jurisdictions, the world’s largest exchange has been forced to lay off employees. Zhao stated that the layoffs were necessary to “increase the talent density”, but that the company was still hiring for other positions.

Reports of the voluntary termination offers come as Binance faces increased regulatory scrutiny. Recently, Binance has faced restrictions in various countries, such as Canada and the United States.

In June, the US Securities and Exchange Commission (SEC) charged Binance with deceptive practices and fraudulent activities. However, Binance announced its intention to fight the lawsuit. CEO Zhao reassured the public that Binance is fully dedicated to following all relevant regulations.

Fragile Crypto, Employ Coinbase

In recent cutbacks and HR cuts, many employees from multiple countries, including the United States, have been adversely affected.

Despite this development, Binance continues to recruit in specific areas such as engineering and product development. However, the cryptocurrency market remains fragile and bitcoin is oscillating at the $30k psychological resistance.

Therefore, it remains to be seen if another bearish run could lead to more layoffs on major cryptocurrency exchanges and other protocols that are grappling with sharp downturns in activity.

It is worth noting that Binance is not the only cryptocurrency exchange that has been subject to layoffs; Other exchanges such as Gemini have recently announced job cuts.

However, Coinbase recently announced several remote jobs as it sought to add talent from around the world.