In a Twitter thread, he added: "Because we hired carefully, we can keep growing regardless of market conditions… A lot of reporters have reached out asking if we're going to be scaling back. He said FTX has 10% as many employees as rival exchanges, but punches above its weight when it comes to output. SBF warned companies that grow their headcount by 10x aren't always rewarded with a 10x productivity boost - and there's a risk that, the more you hire, the less you get done. His exchange has embarked on a cautious approach to hiring new professionals, and this relates to one of the first lessons he learned as a leader: "Make sure your team can mentor employees as fast as you can hire them." Sam Bankman-Fried, the CEO of FTX, has vowed that the trading platform's headcount will continue to grow. Someone hire them please."Īnd Stephen Palley, a partner at Anderson Kill, blasted Coinbase for "corporate mushery" by using the phrase "hiring changes" in its tweet - and said the exchange should have been more honest: these were layoffs.įor what it's worth, not all exchanges are embarking on hiring freezes. Others were a little more blunt, with one posting: "Here's a list of all the people whose career we f***** up. Dr Nick from Factory DAO wrote: "So lemme get this straight, they paid one dude $600m to build an NFT marketplace and now they've got a jobs board for all the young talent they rugged at the last minute because they can’t afford it?" Inevitably, this hasn't gone down well with many in the industry.
Today we are launching the Coinbase Talent Hub to help connect these folks with those opportunities." Unveiling the Talent Hub in a tweet on Tuesday, Coinbase had written: "Following our recent hiring update, there are some exceptionally talented individuals looking for their next great role. now the exchange has reneged on the offer. It's highly likely that some had already handed in their notice, or perhaps moved cities - and we know for a fact that one person may be unable to remain in the U.S.
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