coindesk.com
Binance, the world's largest crypto exchange by trading volume, said it needs to "focus on talent density across its organization," as it responded Wednesday morning to a report of job cuts.
"This is not a case of rightsizing, but rather, reevaluating whether we have the right talent and expertise in critical roles, and therefore we will still be seeking to fill hundreds of open roles," a spokesperson told CoinDesk on Wednesday.
A report earlier Wednesday by independent journalist Colin Wu claimed that Binance may have laid off as much as 20% of its staff. The firm currently has 8,000 employees, the Binance spokesperson said.