Coinbase fires, Binance hires

Crypto giant Binance is opening 2,000 job openings in stark contrast to a string of job cutscompanies working in the field of digital currency.

All of this is happening against a backdrop of extreme volatility.in the cryptocurrency market as investors dump risky assets over fears that soaring inflation will force the US Federal Reserve to aggressively raise interest rates (which has already been done) and trigger a recession in the economy.

Cryptocurrency exchange Coinbase said on Tuesday,which will cut about 1,100 jobs, (18% of its workforce). BlockFi and Crypto.com have also cut hundreds of jobs, while Meta Platforms and Intel Corp have also suspended hiring.