Zhao, Binance CEO Says That Now Is The Best Time For Hiring And Acquiring

Coinbase, Gemini Trust Co., and Rain Financial Inc. are not immune to this year’s selloff, which has had an impact on both stock markets as well as digital-asset valuations. The former two have seen their headcounts drop by as much as 10%. Zhao stated that Binance was frugal and had avoided large promotional spending such as Super Bowl ads or buying the rights to name sports venues.

Coinbase is also a prominent sponsor of NBA games and has jumped on the Super Bowl bandwagon.

In recent years, other exchanges have put their names on Crypto.com Arena or FTX Arena which hosts various NBA franchises. 

Zhao stated in the Consensus interview that during bull markets, everyone started their own projects and everyone was paying ridiculous compensation. He said that the market is now more balanced and that “if we’re in a crypto snow, we will leverage it, we will use it to the maximum.”

Binance also plans to invest in more companies. This is in addition to its $200 million investment into Forbes. He explained that this strategic move is to drive the adoption of blockchain technology in more industries.

Zhao stated that Binance didn’t provide enough risk management and warnings in the past. He also said that the company would continue to educate and inform users.