By PTI | Updated: 23 June 2022
Leading global digital-asset trading platform — Bitget — 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. 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.
For 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. In the beginning of 2021, Bitget had a small team of 150, and has since achieved a threefold increase in mid-2022. To cater to a burgeoning growth, Bitget will be accelerating its hiring plan to pave way for the new developments to come.
Managing Director of Bitget, Gracy Chen commented, “Earlier this year, we announced our derivatives trading volume had reached an all-time high of $8.69 billion (roughly Rs. 68,026 crore) 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, “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. 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.