Working with centralized exchanges: A waste of time

[Wakanda]

In May of this year, my friend lost his job when the crypto exchange he was for shut down operational. All effort to get another one has proved abortive despite his wealth of experience in the space.

As a matter of fact, most exchanges are currently downsizing their workforce due to the effect of the bear market and strict regulations from law enforcement authorities.

This got me thinking if it's actually worth working for CEXs whose activities can easily be swayed by unfavorable market condition and policy.

[Bash4j]

unexpected job loss does not sound good. But that does not take away the potential of the space. While the majority of the crypto exchange were busy downsizing due to the intense bearish pressure, a few reputable pro-regulatory exchanges like Bitget is waxing strong with a steady increase in trading volume and market share as reported by TokenInsight and CoinGecko Q2 highlight. The exchange CEO Gracy Chen recently stated in an interview with Coinbureau that the exchange is still recruiting despite the crypto bear. 

[PaulPeterPedro]

Some CEX has indeed been affected by the bear market, but some have witnessed massive growth and even increased their workforce. At least I know of Bitget.

[Emon]

14 hours ago, Wakanda said:

In May of this year, my friend lost his job when the crypto exchange he was for shut down operational. All effort to get another one has proved abortive despite his wealth of experience in the space.

As a matter of fact, most exchanges are currently downsizing their workforce due to the effect of the bear market and strict regulations from law enforcement authorities.

This got me thinking if it's actually worth working for CEXs whose activities can easily be swayed by unfavorable market condition and policy.

It's happening not only at crypto space... Starting from a company like META , Elon's Twitter/X have also done that on a massive scale. This world is for fittest(Unfortunately)!

[Emon]

13 hours ago, Bash4j said:

unexpected job loss does not sound good. But that does not take away the potential of the space. While the majority of the crypto exchange were busy downsizing due to the intense bearish pressure, a few reputable pro-regulatory exchanges like Bitget is waxing strong with a steady increase in trading volume and market share as reported by TokenInsight and CoinGecko Q2 highlight. The exchange CEO Gracy Chen recently stated in an interview with Coinbureau that the exchange is still recruiting despite the crypto bear. 

But, the term 'Experience' always works🫥. If someone is experienced in the crypto space, he should seek for opportunities,it can be trading or airdrop or just a crypto job! Tho , it's good to know that Bitget is doing good but end of they we have to develop our own skills,gather more experience & 🚀

[Emon]

13 hours ago, PaulPeterPedro said:

Some CEX has indeed been affected by the bear market, but some have witnessed massive growth and even increased their workforce. At least I know of Bitget.

Especially Hotbit & AEX just made the crypto space quite dirty. Exchanges like Bitget/Binance/OKX are trying hard to bring back the glory of this space!