FINRA CEO welcomes crypto employees who were laid off as agency increases focus on digital assets

Financial Industry Regulatory Authority (FINRA) CEO Robert Cook talked about the agency’s direction to the crypto market to understand and monitor cryptocurrencies, saying that those recently fired from crypto companies are welcome to join the FINRA. , Reuters Reported on June 14th.

FINRA is a private company that acts as a self-regulatory body to enforce rules to protect the integrity of registered brokers. The company already has clients that provide access to securities and crypto assets for digital assets.

As the US government has recently been obsessed with cryptographic regulations, Cook said FINRA will soon play an important role. Therefore, agencies are developing methods for verifying digital assets and are considering the possibility of cross-market monitoring on various blockchains.

Cook said the agency will hire individuals with a wealth of cryptocurrency knowledge to move FINRA further down the territory of cryptocurrencies.

He said:

“We need to be involved and prepared to secure the resources to do that, so anyone who has been dismissed from the crypto platform and wants to work at FINRA should call me. . “

Shooting spree

So far, seven crypto companies have chosen to reduce some of their staff and dismiss them. Everything did so to survive the current market conditions.

Gemini was the first company to announce on June 2, 2022 that it would reduce its workforce by 10%. Coinbase did not hire new hires, following Gemini two days later.

BlockFi, Crypto.com, Robin hood, BitsoWhen Bitmex We announced a similar decision within a few days. Crypto.com has fired about 5% of its staff, while BlockFi and Bitmex have fired up to 20% and 25%, respectively.

The crypto community reacts to layoffs and says firing should be the last choice. Twitter users posted the rate of increase in board members for each company that chose to dismiss staff, stating that the rate of decrease should be reduced rather than reduced.

The board of directors of these companies should dismiss instead of layoff 🤦‍♂️

-Cryptocom: 3.5%
-Robin Hood: 6%
-Bitso: 7%
-Coinbase: 9-12%
-Blockfi: 15%
-Bitmex: 15-19%

Percentages are spread to all board members or 🤡

— TucknCrypto 🏆 (@ TucknCrypto) June 14, 2022

Recruiting company

With Binance Ripple It doesn’t seem to be as affected by Crypto Winter as its competitors. Both companies are currently hiring individuals with cryptographic knowledge in addition to FINRA.

Binance especially emphasized how well it is doing. Based on finances, the company leverages the crypto winter by increasing mergers and acquisitions.