Financial giant Fidelity intends to hire 100 more people for its cryptocurrency unit over the next six months, Bloomberg reports.
The new hiring push sets the Boston-based financial giant apart from some cryptocurrency companies that recently started firing their workforce en masse due to declining cryptocurrency prices.
Fidelity, which boasts $4.5 trillion worth of assets under management, likely wants to capitalize on these mass layoffs in order to attract more talent.
Alex DovbnyaThe fact that the financial giant wants to grow its crypto unit underscores its belief in the long-term success of cryptocurrencies.
Fidelity was one of the first high-profile financial companies to dip its toes into crypto.
The Boston-based giant launched its dedicated cryptocurrency unit for Wall Street customers back in October 2018.
In May, Fidelity announced its plan to allow individuals to include Bitcoin in retirement plans.
In September, Mike Novogratz revealed that the mutual fund giant was intending to introduce cryptocurrencies for retail customers. This, of course, would have been a watershed moment for the industry given that Fidelity has millions of customers.
Vladislav Sopov
Dan Burgin