Despite the continuing bear market, Exodus, the user-friendly crypto wallet and Exchange, continues to pay its staff in Bitcoin (BTC), with the whole market value falling below $1 trillion on Monday.
Exodus has paid its employees entirely in Bitcoin since the introduction of its software crypto wallet in 2015, according to Exodus co-founder and CEO JP Richardson.
Even during big market downturns, the firm maintained to pay all of its 300 employees in BTC by giving monthly payment based on their salaries in US dollars.
Exodus not only converts each salary to BTC once a month, but it also adds a little proportion to each “paycheck” to allow for volatility. “This has helped us attract individuals who are still dedicated to DeFi’s cause, while also accommodating folks with financial commitments who wish to convert whatever part of their wage to fiat money,” Richardson added.
Exodus workers are allowed to change their BTC income to fiat or stablecoins, which the CEO describes as a “personal investment option that is not pushed by Exodus.”
According to the CEO, one-third of Exodus’ team members are based in the United States, with the remainder distributed globally. Exodus explains on its official website that certain jurisdictions are more restricted than others when it comes to Bitcoin payments, forcing workers to double-check if accepting Bitcoin as payment is permitted in some U.S. states.
Exodus’ goal for allowing individuals to “witness the financial revolution from the front seats” includes Bitcoin salary. Such payments not only let workers to conveniently accumulate sats in their investment accounts, but they also seek to increase wage transparency. According to the company, everyone on Exodus’ remote staff, including the CEO, understands what their peers earn.
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