Binance Plans To Hire 1000 Employees This Year Amidst Increased Compliance Expenses

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With a focus on compliance roles, Binance is planning to hire 1000 employees this year as the exchange’s annual regulatory compliance spending exceeds $200 million. This move comes as Binance faces increased regulatory scrutiny, including an ongoing lawsuit from the SEC. The exchange plans to expand its compliance workforce to 700 by the end of 2024, up from the current 500. This expansion reflects the growing number of law enforcement requests Binance receives, which have reached 63,000 so far this year, compared to 58,000 in 2023.