Coinbase Gives Crypto Winter the Cold Shoulder With Raft of New Hires

28 November 2022, 14:45 GMT+0000
Updated by Geraint Price
28 November 2022, 14:45 GMT+0000
In Brief
  • Coinbase has revealed candidates for its top leadership positions as it expands into Europe.
  • The news comes despite a sluggish market accelerated by the recent FTX meltdown.
  • Binance had gone ahead to confirm to it will hire 8,000 people by the end of the year.
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Coinbase has bucked the crypto hiring downtrend by announcing it has filled a number of new positions in Europe. 

In a statement, the Nasdaq-listed exchange revealed Elke Karskens and Cormac Dinan as Country Directors of the U.K. and Ireland, respectively. Previously, Karskens handled the exchange’s marketing vertical in the country, while Dinan moved from Crypto.com. 

In addition, the exchange has placed Patrick Elyas as the Director of Market Expansion in Europe, the Middle East, and Africa (EMEA). Michael Schroeder will take over as Director of Controls in Germany after being Chief Compliance & Risk Officer for Bittrex Global.

Last month, Daniel Seifert, a former executive at the fintech firm Solarisbank AG, was appointed by Coinbase as vice president and regional managing director of EMEA as it accelerates its expansion.

With the new appointments, the exchange intends to introduce new products and grow its customer base while expanding into new markets. In this regard, Coinbase also stated, “We strongly feel that the EMEA region is leading the way in creating a safe and secure regulatory environment for crypto.”

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Notably, some crypto players anticipate that the region’s crypto market could initially take a hit with the European Union’s implementation of the MiCA bill. 

Binance and Banks Accelerate Hiring

In a June announcement, Coinbase stated that it is suspending hiring due to the grim market conditions. However, competitor Binance had gone ahead to confirm that it would hire 2,000 staff members.

In a recent tweet, CEO Changpeng Zhao confirmed that it is targeting the hiring of 8,000 people by the end of the year. He also revealed that Binance had 5900 people in June, which has now increased to over 7,400.

Reports also note that the newly registered Bitget plans to expand with new hirings. Bitget reportedly anticipates opening more regional centers and growing its workforce from 800 to 1,200 by Q1 2023. 

Reports also point out that mainstream banks like Goldman Sachs, JPMorgan, and Bank of America, with known crypto interests, are also hiring talent in the fintech vertical.

This contrasts with the recent trend of hiring freezes or layoffs by big tech firms like Google and Facebook.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.