Binance CEO Richard Teng argues that a remote-first work model is essential for the cryptocurrency and Web3 industry. He cites the global and decentralized nature of crypto as reasons why a remote workforce is more suitable than traditional office setups.
A globally distributed workforce allows us to recruit better people and serve our customers more effectively, says Binance CEO Richard Teng. Five years after COVID-19 sparked a global remote-work revolution, the pendulum seems to be swinging back. Some of the very companies that once embraced remote work, like Amazon and X (formerly Twitter) are now asking employees to return to the office. For many, this makes sense.
These organizations were conceived as “in-person” enterprises, with workflows and cultures built around physical proximity. Remote work was a necessary adaptation during a global crisis, but for some, its efficiencies may not justify a permanent transition. Remote-first is not a temporary patch for us; it is our foundation as it is for many companies in the Web3 and crypto sector. From the moment Binance was established in 2017, it was designed as a global, remote-first organization, a model tailored to the demands of an industry that never sleeps. Operating in the borderless world of crypto, where markets function 24/7 and our users span every corner of the globe, a remote-first model is not just reasonable – it’s essential. My belief is that, over time, remote-first work will not remain a niche strategy. As industries evolve and talent dynamics shift, this model will become dominant. Companies that are now forcing employees back into offices will eventually find themselves adapting to this new reality – once again.Cryptocurrency is inherently global and decentralized. The crypto and Web3 industry operate around the clock, with no single geographic or temporal center. Binance’s remote-first model aligns perfectly with these demands, enabling us to serve users in over 100 countries without the overhead of maintaining sprawling physical offices. Our entire workforce of more than 5,000 employees working from nearly 100 countries are remote firs
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