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Despite the present financial market catastrophe, Binance exchange is undoubtedly living up to its reputation as the world’s largest digital currency trading platform, as it has announced intentions to hire up to 2000 additional employees.

Changpeng Zhao (CZ) verified the development of the company’s founder and CEO. CZ claimed it made a “very careful choice” a few months ago to decline “Super bowl ads, stadium naming rights, large sponsor deals,” a decision it said led to its strong financial position in the middle of an unusual “crypto winter.”

Only a few platforms have shared details that show they have been less affected by the current market collapse, such as Nasdaq-listed trading platform Coinbase Global Inc, which disclosed earlier this week that it had reduced its employees by up to 18%.

While the Coinbase move was a feather in the exchange’s cap, other firm officials had been hinting at a hiring slowdown for quite some time. Gemini exchange announced a similar retrenchment move a few days earlier.

While the current outage is affecting exchanges in diverse ways, crypto loan platform Celsius appears to be feeling the brunt of the cryptocurrency price drop. Withdrawals were halted earlier this week, and the lender declined offers of assistance from Nexo, a Swiss rival.

If the crypto winter lasts much longer, it’s unclear if Binance will be able to maintain its recruiting drive. However, regardless of the larger prognosis, excellent cost-cutting methods may considerably assist trading platforms, not just in moments of the economic boom but also in periods of economic depression, such as the one we are currently experiencing.

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