According to a report publishded by PicaPica, Binance, the crypto giant, has grown globally in just 165 days, with a highly distributed workforce across 69 countries or regions, making it one of the most successful companies of our time. It established a remarkable 50.6% share of the crypto exchange market in Q2 2023, compared to Apple's 24% across all smartphone brands in Q4 2022.
Binance's unique distributed organizational structure shows it as an archetype of the Future of Work, attracting employees from various countries and universities. Analyzing Binance's staff data, we see that it consists of:
- Singapore: 176 individuals
- United Kingdom: 78 individuals
- United Arab Emirates: 75 individuals
- United States: 27 individuals
- India: 24 individuals
Binance's workforce numbers around 8,000, distributed across 86 cities globally. Approximately 46.86% work in business-related roles, with 20.26% in technical roles, and 14.96% in operational roles.
Changpeng Zhao (CZ) leads Binance, shaping the company's direction through strategic hiring and by sharing his business insights from reading books on corporate management and business history. Binance has a preference for promoting from within, with a promotion rate of around 26.46%. The company emphasizes its focus on compliance and anti-money laundering expertise but has faced compliance controversies in multiple countries.
The rise of Binance raises questions about the inner workings of a globally distributed organization, lessons on innovation and ambition, and the future of the digital frontier.
