Singapore, 21 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 that were ongoing in the space. 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 from 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.
Commenting on the recent situation, Managing Director of Bitget, Gracy Chen commented, “With presence in over 50 countries around the world, Bitget has also been growing at an unprecedented pace. Earlier this year, we announced our derivatives trading volume had reached an all-time high of $8.69 billion 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 to add, “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. We want to solidify our operations in each region, recruit localised hires, covering operations, product development, and customer service, etc. 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. As a global crypto operator, it is essential for periodical updates to ensure the platform is operating smoothly and most importantly, compliant and safe from hackers and viruses. Moreover, with product innovation as a guiding principle at Bitget, proven most meaningfully through its flagship product under the Social Trading concept – One-Click Copy Trade, the product development team will be crucial in supporting the expansion of offerings at Bitget.
CEO of Bitget, Sandra Lou concluded by saying, “We have recorded tremendous growth in the past year, and Bitget is now ranked top 5 globally in terms of derivatives trading in a short amount of time. Adhering closely to our motto of ‘Better Trading, Better Life’, we will uphold the commitment we made to our community, and ensure our developments are abreast with industry standards as we strive to deliver a top notch experience to our traders. We look forward to strengthening our workforce so that we can cater to growing market needs and prepare for the next bull run.”
Established in late 2018, Bitget is one of the world’s leading cryptocurrency exchanges. Currently serving over two million users in more than 50 countries around the world, Bitget accelerated its mission to promote decentralised finance in 2021 with a 500-strong workforce spanning over 20 countries.
Since Bitget’s official launch in the crypto derivatives market in June 2019, the platform has now become one of the world’s largest crypto copy trading and derivatives exchanges, and is ranked in the top five globally by CoinMarketCap and CoinGecko for derivatives trading by volume. The leading exchange focuses on transforming the way people connect and trade with social trading. Its flagship offering, One-Click Copy Trade, is nothing short of a pioneer in social trading, and has amassed over 27,000 professional traders, with approximately one million followers, innovating the experience for crypto derivatives traders worldwide.
Adhering closely to its philosophy of ‘Better Trading, Better Life’, Bitget is committed to providing comprehensive and secure trading solutions to users globally, aiming to be the portal that transcends Web2 and Web3, that connects CeFi and DeFi, resulting in an expansive bridge to the vast web of crypto. In September 2021, Bitget announced its sponsorship of world-renowned football team Juventus as its first-ever sleeve partner and PGL Major’s official esport crypto partner soon after. Partnerships with the leading esports organisation, Team Spirit, and Turkey’s leading and long-standing football club, Galatasaray, were also announced in early 2022.
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