Ripple Still Hiring While Most Companies Deal With Uncertainty Due To Silicon Valley Bank Collapse
While most crypto-centered businesses have cut a large amount of their workforce in the last two years Ripple is doing the exact opposite.
According to Ripple’s website, they have over 73 openings available.
Here’s a list of some of the positions:
- Customer Partner Success Senior Manager
- Senior IT Support Specialist
- Staff Software Engineer, Liquidity
- Senior Software Engineer, Data Platform
- Legal Counsel
- Senior Executive Assistant
- Senior Engineering Manager, Data Platform
- Director, Software Engineering – RippleX
The job openings are for Ripple offices in several countries such as:
- Singapore
- New York
- California
- Canada
- United kingdom
- Australia
- UAE
Forbes reported the Silicon Valley Bank’s collapse will lead to many tech startups to cut jobs.
Per Forbes:
Fallout from the troubled Silicon Valley Bank could adversely impact the job market, particularly in the venture capital, startup and cryptocurrency sectors where SVBVB -3% was a prominent lender and banker. With the ongoing white-collar recession, this fear will likely cause companies to hold off on hiring and continue laying off workers to cut costs, just in case things worsen.
The saga started when SVB was confronted with the new reality of higher interest rates. SVB faced interest-rate risk on $91 billion in bonds, then announced a firesale of its $21 billion bond portfolio, incurring huge losses of around $1.8 billion, according to the Financial Times. The bank announced plans to raise around $2.3 billion in fresh capital to remain solvent and keep the doors open. Credit agencies slashed SVB’s credit ratings, causing shares to tumble more than 60% on Thursday.
Meanwhile, customers were getting worried as people withdrew their money, as the Federal Deposit Insurance Corporation only covers amounts up to $250,000. If SVB were to go under, it would be the second-largest bank failure in the history of the United States.
