BEHIND THE NEWS
What is the significance of seemingly everyday news?
How can boring news be good news? We would like to demonstrate it to you with the example below:
The news: Two top crypto-currency exchanges are looking for staff. It doesn’t sound very exciting. However, if you look at what’s happening more closely and ask the question “Why may it be happening?”, it is getting more exciting.
As CCN.com is reporting: “Binance and Coinbase, two of the largest cryptocurrency exchanges in the world by user base and daily trading volume, are on a hiring spree /…/ Speaking to Bloomberg, Binance’s Chief Financial Officer Wei Zhou stated that the company is hiring 50 new employees in its headquarters in Malta while also recruiting new hires for the firm’s first fiat-to-crypto exchange in Singapore. The Malta-based multi-billion dollar company, which already has more than 300 people across 39 countries, is soon expected to expand its team to over 350 employees.”
If you follow the crypto headlines, you probably know that in the last 12 months, Binance has been going through spectacular growth. There were months when the number of users went up by millions. Binance can easily be the fastest growing startup in history.
The most recent milestone is the launch of Binance Singapore, and for the next few months, Zhou is promising more fiat-integrated Binance crypto exchanges to appear on the horizon.
He said: “Our goal right now is to continue to grow the ecosystem, not just for crypto-currency, but for the blockchain industry as well. The company is currently looking to acquire projects in the fiat space.”
Binance is working hard on integrating more and more crypto-currencies that match the requirements of the exchange. And that work requires highly experienced crypto experts, who have the knowledge, the expertise to evaluate the selected projects.
At the same time, on the other side of the world, Coinbase has just hired Michael Li, who used to be LinkedIn’s senior executive and Head of Analytics and Data Science. He is now Coinbase’s new Vice President of Data.
“I am thrilled by the opportunity to define and evolve the role data can play in a rapidly emerging space, combining an innovative mindset to solve new challenges with learnings from my past experience,” Li said.
Li is not the first and quite possibly not the last top executive that crypto-exchanges convince to switch sides.
So, why is it exciting news that major exchanges are hiring new staff? Experienced experts and high-ranking executives are migrating from the traditional finance sector to the crypto-currency sector at a spectacular rate, which suggests that the world is preparing for a shift: the significance of finance is shifting from the old structure to the new, blockchain-based structure.