The company stated that the precautions taken enabled the company to turn the downturn into an opportunity.
The CEO of Ukraine’s leading decentralized staking providers in the blockchain industry dubbed Everstake, Sergey Vasylchuk doesn’t see the current crypto bear market and Russia’s war against the country as a problem to continue hiring more employees.
On June 15, the founder posted a tweet, stating that the company will not fire any of its employees and will welcome new talents into the team.
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On top of that, Vasylchuk mentioned that before the war Everstake managed to employ 30 skilled people, as around 10 more free positions are available in the development and marketing fields. Moreover, the organization is reportedly planning to launch a particular exclusive fund to help the company get through today’s harsh crypto market conditions.
Furthermore, the CEO stated that the company was always prepared for the worst, adding that it's always crafty to assess and address all possible dangers in such a jumpy market as crypto. Thus, the preparations supposedly helped the firm to avoid laying off any of its employees. He added:
​​“We couldn’t help but expect another market crash simply because risk management dictates that one must always expect things to go south.”
Reportedly, Russia’s aggression against Ukraine has also contributed significantly to such preparations:
However, Everstake’s founder had still implied that Terra’s massive crash caught the company by surprise and the risks of the stablecoin were initially underestimated.
Everstake, founded in 2018, is a Ukrainian-based largest decentralized staking issuer that has 625,000 users. The company has around 51-200 workers and specializes in blockchain, financial technology, Proof-of-Stake (PoS), as well as digital assets to help investors earn a return on their initial holdings.
In the last month, a number of crypto-related organizations have announced that they would release a significant number of their team members. For instance, on June 2, crypto exchange Gemini fired 10% of its workers, whereas Coinbase had recently sent around 1100 employees packing.
On the other hand, Everstake is not the only lion-hearted business that is not afraid to hire new employees amid the crypto bear market. For instance, the world's largest crypto exchange dubbed Binance is also planning to expand its team by 2000 more workers.
