Binance has sacked more than 1,000 people in recent weeks as it contends with regulatory and legal hurdles in the U.S. and other jurisdictions, the Wall Street Journal reported July 14, citing a person familiar with the matter.
The exchange had roughly 8,000 employees around the globe before the layoffs began a few weeks ago. Sources told the newspaper that the firing could continue until the exchange’s global workforce is reduced by a third.
According to the report, the exchange has cut people across the board throughout its various global operations, but customer service roles were affected the most.
Binance confirmed the layoff but did not specify how many roles were cut. A spokesperson for the exchange told WSJ:
“As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic. This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and ex
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