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Why is Coinbase hiring people?

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The world economy is going through one of the hardest moments in history, threatening to be the strongest economic recession since the crash of 1929, just around the corner. However, amid the economic problems the world is dealing with, there are still companies that are accelerating. So today we ask ourselves: why is Coinbase hiring so many people before Bitcoin’s Halving?

The situation of the world economy

The Coronavirus crisis has come to change everything, even in companies like Coinbase. Since the virus born in the city of Wuhan reached the western world, most countries in the world have had to take tough measures to protect the health of their citizens. Being the most important of them to order a quarantine for the majority of its inhabitants.

This, of course, has important economic consequences. By paralyzing a large part of the productive and commercial sector, due to the impossibility of workers attending their jobs.

This without taking into account the changes in the consumption model, which is also altered in this situation, when the inhabitants focus more on basic products and savings.

All of this is already generating multi-million dollar losses at several of the world’s largest companies. In addition to a bleak forecast for the economy, a contraction in world GDP is expected. Something that has brought entire sectors of the economy to their knees. But not Blockchain technology, which continues to be as active as ever, as evidenced by Coinbase hires.

Coinbase expands its payroll amid the crisis

And it is that, the main American crypto company, has at least two reasons to be optimistic these days. The first being that its operations can operate remotely. Therefore, despite the quarantine, Coinbase employees remain active, working for the development of the exchange.

But, it is the second reason that explains the behavior of Coinbase in recent months. We mean the proximity of the next Bitcoin Halving. Which, much of the crypto world expects to bring about a substantial increase in the price of the cryptocurrency. Which would mean significant profits for all those who, like Coinbase, have bet on Bitcoin during these years.

Therefore, they are preparing for an expansion in the size of the crypto market, and therefore in the activity of their platform. Reason why Coinbase would be hiring dozens of new employees, following the path of other optimistic crypto companies such as Binance and Kraken, which are preparing for a true Blockchain technology boom.

If the predictions of these platforms are correct, we could witness years of expansion within the Blockchain technology sector. Driven not only by the characteristics of BTC, but also by the COVID-19 crisis and its effects on the traditional economy. Exactly what Coinbase expects, and what makes their hires our Today’s Data here at CryptoTrend.



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