Coinbase Plans to Increase its Workforce by Around 70% This Year

Major US-based crypto exchange Coinbase said it plans to hire up to 2,000 employees this year, increasing its total workforce by around 70%.

The firm aims to grow its Product, Engineering, and Design teams, according to L.J Brock, Chief People Officer of the company. Coinbase says it had over 2,780 employees at the end of September 2021, or more than double compared with the beginning of the year.

“We see enormous product opportunities ahead for the future of Web3,” Brock said in a blog post today, adding that the company is also expanding to include products that host user-generated content like NFTs, and aims to strengthen their Coinbase Wallet.

Also, as reported, the platform wants to launch crypto derivatives products, but claims that it will do so in a “robust and holistic” manner, as part of a plan to help form a “regulated” derivatives market.

Meanwhile, Coinbase should announce its fourth quarter of 2021 and full-year financial results on February 24.

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