Sergey Vasylchuk, CEO of Ukrainian decentralized staking service provider Everstake, said that his companies will continue to hire crypto experts despite the market downturn and the ongoing war environment in the country.
Wednesday on Twitter. shared In his message, Vasylchuk said that despite Russia’s war against Ukraine in February, they have recruited 30 people since then and the firm still has more than 10 positions to fill in marketing and development. According to the CEO, blockchain company Everstake is “not firing anyone” and has prepared a “private fund” to keep the firm afloat even in the bear market.
“It’s important in business to assess and address all potential risks,” said Vasylchuk. “Risk management says we should always expect things to work out. So we couldn’t expect another market crash.”
1/8 I’m very sorry to hear that lots of our fellow crypto companies are forced to lay people off or at least freeze their hiring as long as bears reign supreme on the market. despite that, @everstake_pool is not laying anyone off. And there’s a good reason for that.
— Sergei | Everstake 🇺🇦 (@sergattic) June 15, 2022
Everstake CEO implied that some of this preparation was done on the possibility of Russian forces invading Ukraine. Vasylchuk said that similar measures taken in the event of a market downturn enabled the firm to avoid layoffs of employees. “Still, I have to admit that we underestimated the Terra risk,” he said, emphasizing that they turned the crisis into an opportunity.
Many firms operating in the crypto space from the United States and around the world have reported shrinking as trillions of dollars have disappeared from the market in the past 30 days. Coinbase, Gemini, and Crypto.com announced that between 5 and 20 percent of their employees will be laid off amid the bear market, while Kraken said it will continue to recruit for more than 500 positions across various departments.