Microsoft Loses Executive to Crypto as Talent War Heats Up

Tech giants and firms from the crypto, metaverse and web3 galaxy are in extreme competition to attract the best talent.

This is a big catch for the crypto sphere. Binance, the largest crypto platform in terms of trading volume, has managed to poach great talent from Microsoft  (MSFT) - Get Microsoft Corporation Report.

Rohit Wad has been Binance’s new chief technology officer (CTO) for four weeks, according to a blog post released on Friday by the company.

Wad was until this announcement "Corporate Vice President (Product and Engineering)" at Microsoft. His LinkedIn page has still not been updated as of time of writing. We can read there that he joined the software giant in October 2016 from Facebook, now known as Meta Platforms  (FB) - Get Meta Platforms Inc. Class A Report, where he was engineering director.

He stayed a little over four years with the social media group. Before Facebook, Wad also worked a little over a year at Google  (GOOGL) - Get Alphabet Inc. Class A Report, but he had already spent 20 years at Microsoft.

It is therefore a fine connoisseur of the tech sector and of Silicon Valley that Binance, which is in the midst of an offensive to gain the trust of regulators, has just recruited.

At Binance, Wad will "engineer scalable, compliant, and fast Web3 services and solutions that will welcome the next billion crypto users," the company said. "Beyond Web3, he wants to ensure that Binance continues to be the most secure, fastest, and liquid exchange in the world."

"Web3 and traditional tech companies that started in Web2 (like Amazon and Microsoft) will continue to coexist within their own spheres, or pockets, of innovation," Wad said in the blog post.

Binance Wants to Acquire Non-Crypto Firms

The race for talent has grown and intensified recently with the emergence of the crypto industry, the metaverse, and web3, the new generation of the internet. In other words, tech giants are no longer just in competition with their traditional rivals but now with startups to attract the best talents.

The advantage of these startups is that they have money, lots of money because venture capital firms are currently investing in their promises to completely disrupt traditional industries and tech.

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