BusinessDay

Bitget to increase workforce amid global slowdown

...aims to increase its headcount to 1,000 by end of 2022

Despite the current market slowdown, Bitget, a global digital asset trading platform, plans to double its workforce to 1,000 in the next six months.

The global cryptocurrency market has been in a downward trend since the start of the second quarter of 2022, which has put an end to many projects and activities that were happening in the area. Due to the market’s turbulence, personnel cutbacks at numerous international crypto operators were also prompted by the fast-shifting economic landscape, over-hiring, and improper resource allocation.

Despite unstable market conditions, Bitget, the leading global derivatives exchange, has been expanding significantly and producing strong and consistent cash flow. The platform has continued to improve its offerings and make sure the continually expanding needs of customers are satisfied despite such market sentiments.

“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,” Gracy Chen, managing director of Bitget, said.

“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,” Chen added.

The business had a small crew of 150 at the start of 2021, and by mid-2022, that number had tripled. In order to accommodate increasing expansion, the organisation will accelerate the hiring process in order to make room for the upcoming changes.

Read also: Mara Wallet to boost crypto, NFT adoption in Africa

“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,” Chen said.

“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,” Chen added

Sandra Lou, CEO of Bitget, added that “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 to cater to growing market needs and prepare for the next bull run.”

Get real time updates directly on you device, subscribe now.