Binance hires ex-FBI agent, while Fidelity goes on a hiring spree of 100 more people

    22 Oct 2022

    The US subsidiary of crypto exchange Binance has hired ex-FBI agent BJ Kang as its first head of investigations, the WSJ reported. BJ Kang is renowned as he led the numerous probes of high-profile Wall Street insider trading cases. Meanwhile, Fidelity Digital Assets expects to add about 100 more people over the next three to six months.

    According to a statement released on Oct. 20, Kang would work closely with law enforcement and regulators to “identify and mitigate criminal activity” related to digital assets on the company’s US platform, said Binance.US.

    The WSJ story reads, Binance.US has been increasing its regulatory staff, with a headcount of up 145% in that department so far this year, and more than 20% of the company’s staff now working in legal, compliance, and risk operations.

    “BJ will lead and oversee all aspects of Binance.US’ commitment to protect users through developing investigations infrastructure to prevent criminal activity related to digital assets along with partnering closely with law enforcement, regulators, and industry peers,” a Binance.US spokesperson told CoinDesk.

    Meanwhile, Fidelity Digital Assets expects to add about 100 more people to its team over the next three to six months, Chris Tyrer, head of Fidelity Digital Asset Management and Fidelity Digital Assets Europe, said on Oct. 18.

    The comments come after the company revealed in May that it was seeking to double its headcount by the end of the year by adding 210 people to its force.

    According to Tyrer, the hiring landscape in the space looked very different a year ago during the crypto bull run.

    “We were losing people in terms of job offers to some technology companies who were willing and able to sort of pay above the odds,” he added. “I think that has definitely calmed down, so now … hiring has become a lot more straightforward, but I think that will change again in the future.”

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