Melissa Chen, an NUS graduate, warns of the harsh realities of working in the cryptocurrency sector after challenging experiences with several major exchanges. Speaking to The Independent Singapore, she said she started her career at Bybit, which she described as having an incredibly dysfunctional workplace culture. During her two years there, she witnessed employees being treated like replaceable parts rather than valued team members. Chen also alleged that Bybit expected staff to conform to the widely criticised 996 work culture, which is commonly practised across most Chinese companies.
The 996 system requires employees to work from 9 a.m. to 9 p.m., six days a week, and this arrangement has drawn controversy due to its negative impact on physical health, mental well-being, and work-life balance. Adding to her frustrations, Chen said leadership decisions at the company often appeared arbitrary, and a young Chief Marketing Officer appointment did not reflect meritocratic progress. While these factors alone might prompt many to resign, Chen said her inability to get along with her manager ultimately led her to leave. She then joined Bitget, another leading crypto exchange, but stayed for only a month due to concerns over licensing to operate in Singapore at the time.
Undeterred, Chen moved to OKX, one of the world’s largest cryptocurrency exchanges, and found similar dynamics. She described a mandatory minimum 10% annual turnover rate and redundancy after seven months, without a clear reason or notice period. Chen then took a position as a business development lead at KuCoin, where she remained for three months amid operational inefficiencies and restructuring that led to widespread terminations. She notes that it is common for crypto professionals to move between companies within the industry and hopes her story spurs broader change, and she has since found a new role in a different industry.
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