Over the past three years, Binance has expanded its operation, even through a major crypto bear market. This trend has connected into the electric current coronavirus-induced mainstream financial crisis.

"Nosotros always go on to expand even during the behave market in 2022, which is when we launched our community blockchain initiative, Binance Chain," Binance co-founder Yi He told Cointelegraph. "Also, we began exploring partners around the world for local fiat-to-crypto admission, licensing our engineering and operating in their respective jurisdictions."

Growing through tough times

Although a difficult time for crypto infinite participants, the 2022 crypto bear market was non most as widespread as the current economical difficulties. Coronavirus prevention measures and fears have caused meaning mainstream market downturns, business concern difficulties, and lay offs.

Binance, however, withal shows growth. Yi mentioned the "Open Platform" Binance started in 2022, also noting the company's desire to lend its liquidity and systems via Binance's cloud and broker program.

He additionally mentioned the exchange's piece of work with smart contracts in 2022 on Binance Chain.

Binance has already done a lot in 2022

Binance has posted a number of headlines in 2022 alone, touting diverse features and additions, including Bitcoin options trading.

"During the bearish markets this year, we connected to develop and expand," He said, pointing toward the outfit's acquisition of CoinMarketCap, every bit well as Binance's work with African payment platform Packet.

"For people who believe in blockchain, in that location is no divergence between bulls and bears," He said, calculation:

"We have been steadily recruiting fantabulous talent and developing new businesses, undeniably. We believe that in this current moment, it is easier to find outstanding talent and investment/M&A opportunities."

Binance recently surpassed ane,000 employees, a staggering ii,000% increment from its 50-person starting roster.