Connect with us

Hi, what are you looking for?

Cryptocurrency

Bitget to Double Global Workforce Despite Crypto Winter

Business partners closing deal in coffee shop. Business man and woman meeting in street cafe and shaking hands with each other. Agreement or handshake concept

Bitget, Leading global digital-asset trading platform, is slated to double its workforce to reach 1,000 headcounts in the next six months despite the current market downturn. Since the beginning of the second quarter of 2022, the overall crypto market has been on a downward trend, which cut short a lot of projects and initiatives that were ongoing in the space.

Amidst the volatility of the market, negative market sentiments also led to headcount reductions in various global crypto operators, spurred by rapidly changing economic conditions, as well as over-hiring and misplacement of resources.

Bitget, the leading global derivatives exchange has been experiencing tremendous growth and generating strong and recurring cash flow despite uncertain market conditions. Such market sentiments have not deterred the platform from enhancing its offerings and ensuring the rapidly increasing needs of users are met.

At the beginning of 2021, Bitget had a small team of 150 and has since achieved a threefold increase in mid-2022. To cater to burgeoning growth, Bitget will be accelerating its hiring plan to pave way for the new developments to come.

Commenting on the recent situation, Gracy Chen, Managing Director of Bitget, said, “With a presence in over 50 countries around the world, Bitget has also been growing at an unprecedented pace. 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.”

She continued to add, “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.

“We want to solidify our operations in each region, recruit localised hires, covering operations, product development, and customer service, etc.

“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, prioritise growth, and be prepared to welcome the next round of crypto adoption when the market regains strength.”

Moving forward, Bitget aims to expand its global workforce to 1,000, equivalent to about 500 new hires by the end of the year, mostly in the product development and customer service fields. As a global crypto operator, it is essential for periodical updates to ensure the platform is operating smoothly and most importantly, compliant and safe from hackers and viruses.

Moreover, with product innovation as a guiding principle at Bitget, proven most meaningfully through its flagship product under the Social Trading concept – One-Click Copy Trade, the product development team will be crucial in supporting the expansion of offerings at Bitget.

CEO of Bitget, Sandra Lou concluded by saying, “We have recorded tremendous growth in the past year, and Bitget is now ranked top 5 globally in terms of derivatives trading in a short amount of time.

“Adhering closely to our motto of ‘Better Trading, Better Life’, we will uphold the commitment we made to our community, and ensure our developments are abreast with industry standards as we strive to deliver a top-notch experience to our traders.

“We look forward to strengthening our workforce so that we can cater to growing market needs and prepare for the next bull run.”

Click to comment

Leave a Reply

Your email address will not be published.

ad

You May Also Like

Tech

Chika Ekeji, Chief Strategy & Transformation Officer of MTN Group, has reiterated the company’s commitment to become the largest, most valuable business platform in...

Tech

Opinion Moulders in the technology and business circle in Africa are set to gather in Lagos, Nigeria (West Africa) on 9 November 2022 for...

Tech

Clickatell, a CPaaS innovator and Chat Commerce leader, discussed with attendees at its Connect Interact and Transact (CIT) annual Joburg event on Tuesday the...

News

The National Information Technology Development Agency (NITDA) has continued to display its commitment to the sustainability of a digitally transformed Nigeria by engaging the...