Binance plans to hire 1,000 employees this year, and the company's annual compliance expenses have exceeded $200 million

ChainCatcher news, according to Bloomberg, Binance plans to hire 1,000 employees this year, with many positions focusing on compliance. This move is in response to increasing regulatory requirements, especially after the plea agreement reached with the U.S. Department of Justice, which has led to the company's annual compliance spending exceeding $200 million.

Binance CEO Richard Teng stated that the plan is to expand the compliance team to 700 people by the end of 2024, while the company is also continuing to seek the establishment of a global headquarters. Teng also mentioned that Binance is facing an increasing number of requests from global law enforcement agencies, having handled 63,000 requests this year, up from 58,000 last year.