Binance, the world’s largest cryptocurrency exchange, has experienced job cuts due to management departures.

The Wall Street Journal reported over 1,000 people laid off in recent weeks.

Binance CEO Changpeng Zhao denied media estimates and stated that the exchange is still hiring.

The SEC sued Binance and Zhao for “web of deception” last month, but Binance vows to fight.

The industry’s confidence was boosted by BlackRock and Fidelity’s spot bitcoin ETF applications.

The company’s worldwide staff has expanded from 30 to over 8,000 in six years.

To remain agile and dynamic, Binance must prioritize talent density throughout the organization.

Many Binance executives left last week, including Chief Strategy Officer Patrick Hillmann.