After expanding its headcount in 2022 from 3,000 to 8,000, Binance is planning to hire another 15% to 30% people in 2023, CEO Zhao Changpeng told the Crypto Finance Conference Wednesday in St. Moritz, Switzerland.

Currently “not super efficient,” Binance, the largest cryptocurrency exchange in the world, needs to get “well-organized” to prepare for continued cryptocurrency growth, Zhao said, CNBC reports.

“We will continue to build and, hopefully, we will ramp up again before the next bull market,” Zhao said.

Zhao also downplayed the significance of FTX’s downfall on the greater cryptocurrency industry, saying, “There’s definitely damage [but the] actual damage is not that high.”

FTX, which was valued at $32 billion, “is not a big player; they just make a lot of noise,” Zhao added.

Binance “did not master plan” the collapse of rival FTX, Zhao added.

Following FTX’s bankruptcy last November, Binance provided proof of $69 billion in reserves.

Altogether, the cryptocurrency industry lost $1.4 trillion of its value in 2022, forcing many other rival exchanges, such as Kraken, Huobi and Coinbase, to cut 20% to 30% of staff.