Five years after COVID-19 sparked a global remote work revolution, the pendulum appears to be swinging back. Some of the same companies that once embraced remote work, such as 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” businesses, with workflows and cultures based on physical proximity. Remote work was a necessary adaptation during a global crisis, but for some, its efficiency may not justify a permanent transition.
Remote-first is not a temporary patch for us; It is our base, 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 and remote organization, a model adapted to the demands of an industry that never sleeps. Operating in the borderless world of cryptocurrency, where markets run 24/7 and our users span every corner of the globe, a remote model is not only reasonable – it’s essential.
I believe that over time, remote work will not remain a niche strategy. As industries evolve and talent dynamics change, this model will become dominant. Companies now forcing employees to return to offices will eventually find themselves adapting to this new reality, once again.
Building a remote-first organization
Cryptocurrency is inherently global and decentralized. The cryptocurrency and Web3 industry operates 24 hours a day, without a single geographic or temporal center. Binance’s remote model aligns perfectly with these demands, allowing 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 in nearly 100 countries is remote-first. A Stanford University study found that remote work increases productivity by 13 percent while reducing turnover rates and organizations save an average of $11,000 a year per employee by adopting remote models with reduced office costs and greater efficiency.
This approach maximizes efficiency, allowing us to operate efficiently and agilely, while giving our teams the autonomy necessary to deliver exceptional results.
We also offer hybrid working in jurisdictions where we have regulatory approvals and have a physical presence in places such as Dubai and Paris, allowing us to have centers of collaboration and regulatory engagement without compromising the benefits of a distributed workforce. And balance global operations with local nuances that ensure we meet jurisdictional requirements seamlessly and maintain a physical presence when necessary.
Efficiency doesn’t happen automatically in a remote setup. It requires deliberate systems, a strong culture, and the right tools. At Binance, we place immense emphasis on hiring the right people: autonomous people who thrive in a fast-paced, decentralized environment. We give them the tools and resources to succeed, whether it’s cutting-edge collaboration platforms or flexible budgets to execute their goals.
Maintaining a cohesive culture in a distributed workforce is perhaps the biggest challenge, but it is also where Binance excels. We foster a shared culture based on user-centricity, mutual respect, direct communication and a shared commitment to innovation. Regardless of where an employee is located, they are united by our principles: non-discrimination, strong user focus, and a relentless drive to push boundaries. Technology plays a key role here, allowing us to maintain seamless communication and collaboration across time zones.
Of course, challenges remain. Time zone differences can complicate synchronous collaboration, and fostering a sense of belonging in a fully remote environment requires intentional effort. To address these issues, we adjusted asynchronous workflows, invested in strong team-building initiatives, and created opportunities for employees to connect virtually and in-person whenever possible.
It’s not for everyone, but it’s the right choice for many.
While remote control is critical to Binance’s success, it is not a one-size-fits-all solution. It works best for industries and organizations that value agility, creativity, and global reach. For traditional industries with deeply ingrained in-person processes, or for companies whose cultures were shaped by decades of physical collaboration, a full pivot to remote work may not be feasible (at least not yet).
Even within the technology sector, there are notable differences. Companies like Amazon, which once epitomized innovation, have settled into more rigid structures over time, requiring employees to work in the office three days a week and increasing that number to five by 2025 while monitoring their office days, prioritizing control over flexibility. For these organizations, returning to an office-based model may seem logical. But I think this approach misses the broader trends shaping the future of work.
Remote work demands a certain type of talent: creative thinkers, motivated people, and those who thrive on autonomy. It also requires organizations to adopt a culture of trust and responsibility. Not every company, nor every employee, is ready for this level of independence, but the rewards are immense: access to a global talent pool, unparalleled flexibility, and the ability to move at the speed of innovation.
Why remote is the future
The world is becoming increasingly digital, with services and products tailored to distributed geographies and diverse demographic groups. This change is reflected in how people live, work and perceive freedom. The traditional model of commuting to a central office five days a week is becoming inadequate for this new reality.
Workforces are also becoming more global. The best talent can come from anywhere, and companies that want to attract and retain this talent must offer flexibility. Remote organizations like Binance demonstrate the effectiveness of this model, creating competitive pressure on traditional companies to adapt. As companies compete for top talent, those clinging to old models risk being left behind.
AI will also play a transformative role. As automation takes over repetitive tasks, the workforce will increasingly be made up of high-level thinkers: creative, strategic and analytical individuals. These workers value autonomy and flexibility, and remote models adapt to their preferences. Companies that embrace this change will be better positioned to thrive in the changing employment landscape.
That said, prioritizing remote doesn’t mean abandoning physical interaction entirely. Hybrid models, which combine the benefits of remote work with regular in-person or virtual collaboration, offer a promising middle ground. At Binance, we have regular virtual team building events, virtual and in-person fun clubs; Some teams have regular external meetings and our local teams meet regularly, especially in regions where we have regulatory approvals. They provide the flexibility employees crave while preserving the human connections that enhance creativity and teamwork.
Pioneers in the future of work
Of course, remote work is not universal. Certain professions, such as healthcare, manufacturing, and others that rely on physical presence, will always require on-site operations. But for many management positions, the potential for remote work is immense. The change will be gradual and will likely take decades, but it is inevitable.
Binance is proud to be at the forefront of this transition. Our remote model not only allows us to lead the fast-paced world of cryptocurrency, but also sets a standard for what work will look like in the future. By prioritizing flexibility, autonomy, and a global mindset, we are blazing a path for others to follow.
As the world continues to digitalize and decentralize, the companies that embrace these principles will be the ones that thrive. At Binance, we’re not just building the future of finance: we’re building the future of work. And we’re just getting started.
