Justin Sun follows Binance to aid the people who lost their jobs due to the harsh market conditions by extending hiring. The founder of Tron, Justin Sun, is extending support to anyone affected by the spree of layoffs from multiple crypto giants.
Justin tweeted that those who lost their jobs can apply for different vacancies in the TRX ecosystem.
“For those who have lost their jobs over the current extreme market condition, trondao, Poloniex, BitTorrent, usddio, apenftorg, DeFi_JUST, defi_sunio are all actively hiring! We are targeting to hire 50% more.”
Amidst the layoffs, Justin followed Binance
With corporations on a hiring spree, Binance appears unaffected and continues to hire. Crypto firms are mass-laying off employees, with Crypto.com, Gemini, Coinbase, and BlockFi all unveiling layoffs and hiring freezes.
Other businesses, such as Bitso, Mexico’s largest crypto exchange, have just let off 10% of their workers. Buenbit, an Argentine cryptocurrency exchange, has laid off 45 percent of its employees.
To add to the latest list, Coinbase recently announced that it will lay off 18% of its staff due to the harsh market conditions and economic instability. According to its announcement, almost 1,100 employees were taken down from their position.
“This “difficult decision” was made “to ensure we stay healthy during this economic downturn.” “We appear to be entering a recession after a 10+ year economic boom.”
CEO and co-founder Brian Armstrong
In another news, in an attempt to defend the peg of USDD, the TRON DAO reserve was deploying a total of $2 billion to maintain the peg. Additionally, Justin announced today that he was adding 500 million USDC more to the reserve. The TRON DAO Reserve team announced that to tackle the extremely difficult market conditions, USDD is now collateralized by 310%. The extra attempt is to ensure that USDD doesn’t end up like UST.
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