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Binance lays off over 1k Employees

wsj.com

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Re: Binance lays off over 1k Employees

#171

Post by JeremyNT »

benreesman wrote: post #17

I haven’t paid any serious attention to crypto-type markets in a while but historically BTC/USDT was a pretty good number to look at if you could only look at one and it’s (glances)…whoa back above 30k? That’s not like peak tulip or even close but historically like, high-ish I think. I don’t particularly feel like reading the entrails of the crypto chicken at the moment so I’m going to assume that the crypto market (…

It's bizarre to me too. I think there must be some seriously big holders doing wash trading to prop things up on paper.

Anecdotally, all of the normies I know of who were really "into crypto" during the pandemic are coming around to thinking of the whole thing as a shark pit full of scams. There can't be that much new blood out there left to recruit to the pyramid at this point.

Re: Binance lays off over 1k Employees

#172

Post by justapassenger »

baby wrote: post #143
justapassenger wrote: post #70

Earlier quoted context omitted.

High salaries are part of the grift. Makes you look really successful (they pay a lot, so they must be super profitable!) and helps, at least partially, select employees who won’t be asking questions, just do their job and collect paychecks.

[flagged]

Tons of "financial influencers" have constant videos of them with lambos and other expensive toys. It's basically the same thing - image is everything in speculative parts of the financial market.

Re: Binance lays off over 1k Employees

#173

Post by arp242 »

brycelarkin wrote: post #107
arp242 wrote: post #46

Earlier quoted context omitted.

Knew someone who worked at Binance, as support. I'm sure he's competent enough at his job, but he has no special skills or anything. He made more money than I did as a senior software dev at the time. It seems not only did they hire a lot of people, they also paid them an ungodly amount of money.

Cash comp or was he also compensated in tokens?

Knowing myself I probably asked if he got paid in real money or monopoly money, but I don't recall the answer. It's a friend of a friend I've spoken to a few times over the last ten years, and the last time was a little over a year ago (when we talked about his job, among other things).

Re: Binance lays off over 1k Employees

#174

Post by MrYellowP »

justapassenger wrote: post #70
arp242 wrote: post #46

Earlier quoted context omitted.

Knew someone who worked at Binance, as support. I'm sure he's competent enough at his job, but he has no special skills or anything. He made more money than I did as a senior software dev at the time. It seems not only did they hire a lot of people, they also paid them an ungodly amount of money.

High salaries are part of the grift. Makes you look really successful (they pay a lot, so they must be super profitable!) and helps, at least partially, select employees who won’t be asking questions, just do their job and collect paychecks.

[flagged]

Re: Binance lays off over 1k Employees

#175

Post by [deleted] »

baby wrote: post #143
justapassenger wrote: post #70

Earlier quoted context omitted.

High salaries are part of the grift. Makes you look really successful (they pay a lot, so they must be super profitable!) and helps, at least partially, select employees who won’t be asking questions, just do their job and collect paychecks.

[flagged]

[deleted]

Re: Binance lays off over 1k Employees

#176

Post by rvz »

arp242 wrote: post #46
ot wrote: post #9

> It was not easy saying no to Super bowl ads, stadium naming rights, large sponsor deals a few months ago, but we did. Today, we are hiring for 2000 open positions for #Binance. https://twitter.com/cz_binance/status/1537013824666095617 Jun 2022, didn't age well.

Knew someone who worked at Binance, as support. I'm sure he's competent enough at his job, but he has no special skills or anything. He made more money than I did as a senior software dev at the time. It seems not only did they hire a lot of people, they also paid them an ungodly amount of money.

Right. so Binance over-hired and over-paid for roles just like the rest of the tech industry in 2021 - 2022 then, as the free money and zero interest rate mania came to an end.

Re: Binance lays off over 1k Employees

#177

Post by FormerBandmate »

MrYellowP wrote: post #174
justapassenger wrote: post #70

Earlier quoted context omitted.

High salaries are part of the grift. Makes you look really successful (they pay a lot, so they must be super profitable!) and helps, at least partially, select employees who won’t be asking questions, just do their job and collect paychecks.

[flagged]

Do you not ask questions at your job? That sounds terrible

Re: Binance lays off over 1k Employees

#178

Post by 1-more »

SideburnsOfDoom wrote: post #168
1-more wrote: post #82

Earlier quoted context omitted.

OTOH NYSE operates in NY and US jurisdictions right? Binance tries to operate everywhere.

> Binance tries to operate everywhere. Under which legal jurisdiction does Binance operate? It's not "all of them". I'm not sure that it's "any of them".

Fair cop, haha. It has designs on operating aboveboard I think everywhere on earth right?

Re: Binance lays off over 1k Employees

#179

Post by SideburnsOfDoom »

1-more wrote: post #178
SideburnsOfDoom wrote: post #168

Earlier quoted context omitted.

> Binance tries to operate everywhere. Under which legal jurisdiction does Binance operate? It's not "all of them". I'm not sure that it's "any of them".

Fair cop, haha. It has designs on operating aboveboard I think everywhere on earth right?

And I have designs on flying to the moon by flapping my arms.

Re: Binance lays off over 1k Employees

#180

Post by ChainOfFools »

trotro wrote: post #131
acaloiar wrote: post #60

Earlier quoted context omitted.

Everything you need to know about crypto today can be found at https://web3isgoinggreat.com/

I know this is tongue in cheek, but there's a lot more to crypto than the scams and failed projects exposed on web3isgoinggreat. One example is all the amazing new research in zero-knowledge proofs, MPC, FHE, and modern cryptography in general, that is motivated and funded by cryptocurrency projects.

Yes, I'll acknowledge that there may be a handful of capable researchers who are able to progress on some basic science by accepting free money from a scam industry which is indiscriminately shoveling it at anything that might appear to legitimize itself.

Just as, in days of old, those who wished to do legitimate (and costly) science had frame their research as supporting alchemical beliefs leading to discovery of immortality, or means to make gold from lead.

and astronomers who wished to build an observatory had to go along with some highly flimsy justification about how it could serve as a means to prognosticate the birth of an heir or victory in battle for some petty murderous strongman.

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