BitGet exchange plans to double its workforce while many of its peers like Coinbase and Gemini decided to make cuts in the workforce due to the current market conditions as we read in our latest cryptocurrency news.
The derivatives platform BitGet exchange plans to increase the number of employees over the next six months, as other crypto companies are cutting back. The exchange plans to reach 1000 employees by the end of the year and said that it had 150 employees at the start of 2021 and grew threefold by mid-2022 according to the press release. Exchanges like Coinbase, Crypto.com, and Gemini are reducing staff amid the market rout that saw the price of BTC as the biggest crypto by marekt cap and slumped by more than 50% since the start of the year.
Bitget experienced huge growth and generated strogn and recurring cash flow despite uncertain market conditions. The trading volume at the derivatives exchanges increased by 10 times in the past year reaching an all-time high of $8.69 billion according to Managing Director Gracy Chen. Bitget ranks number five in CoinGecko’s list of derivatives exchanges with a volume of $7.4 billion in the past day as of the time of writing. BitGet also announced that it registered with the US authorities signaling more plans to expand from Asia to North America.
As recently reported, The Singapore-based crypto platform became the official sponsor of the soccer club Galatasaray and the latter will feature the company as the main crypto partner on multiple platforms and media assets. The most successful soccer club in Turkey made a sponsorship deal with Bitget crypto exchange for the 2021/22 season and the platform will serve as an official crypto partner of the Galatasaray’s basketball squad as well.
Bitget’s CEO Sandra Lou praised Turkey as the biggest leader in the digital asset sector in the region. In her view, the nation showed huge interest and continues to lead education-sharing opportunities in the digital asset field. Commenting on the collaboration was the club’s Vice President Bikem Kanik who explained that the club chose Bitget because of the leading position in the industry while also saying it fits their vision.
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