World's biggest crypto company Binance is planning to increase its headcount this year by between 15% and 30% amidst a tech industry downturn that has seen rival crypto exchange companies lay off employees, per a report by CNBC.

During 2022, Binance increased its headcount from 3,000 to almost 8,000, according to CEO, Changpeng Zhao while speaking at the Crypto Finance Conference in Switzerland on Wednesday.

With the new hiring drive, an additional 30% of staff would put the firm’s number of employees at approximately 10,000 globally, according to the CNBC report.

In recent times, there have been huge layoffs within the crypto industry, so this news should bring some hope to the beleaguered industry. This week, Coinbase announced that it will be cutting approximately 20% of its workforce or 950 jobs to slim down operating expenses.

Earlier, crypto firms including Kraken and Huobi announced plans for job cuts in 2023.