Crypto.com to Cut Almost 260 Jobs Amid Market Rout
The company is the latest crypto firm to announce job cuts, including Gemini, Rain Financial and others. Original Source
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Some crypto firms cut jobs while others aim for sustainable growth
To put things into perspective, since November 2021, the total market capitalization of the digital asset industry has plummeted from it’s all-time high of $3 trillion to its current levels of approx. $1.27 trillion, thus showcasing a loss ratio of over 55%.While this massive monetary downturn can be attributed to
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Ethereum Market Cap Cut By Over $100 Billion Last Month
The worsening condition of the crypto market has seeped through Ethereum. The market cap of Ethereum was purged by more than $100 billion last month. Ethereum was trading at $1,809.49, down -6.9% Wednesday, chart by Coingecko shows. The bearish market stance is getting more consistent as Ethereum appears to settle at its
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Major crypto firms reportedly cut up to 10% of staff amid bear market
Gemini, a cryptocurrency trading platform founded by brothers Cameron and Tyler Winklevoss, is the latest industry firm to lay off a significant part of its staff due to unfavorable market conditions.Winklevoss’ crypto business Gemini Trust reportedly cut 10% of its employees amid the ongoing bear crypto market, the founders wrote
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Tether Cut Commercial Paper Reserve by 17% in Q1
Tether reduced its commercial paper holdings by 17% from $24.2 billion to $19.9 billion in the quarter ended March 31, according to it latest attestation report. Source
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Derivatives’ Old Guard Fights FTX Chief Over Plan to Cut Out Middlemen
But representatives of the derivatives markets made it clear FTX is directly threatening their territory, arguing that cutting out intermediaries for derivatives trades wasn’t just an idea that was going to stop with digital assets. Terry Duffy, the chief executive officer of CME Group, the world’s leading derivatives exchange, aimed
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CRO Coin Falls 19% After Crypto.com Announces Rewards Cut Down To Cardholders
On Monday, Crypto.com’s Cronos (CRO) slide followed suit with a sharp drop after the crypto exchange said it was reducing some staking and rewards tied to its popular pre-paid Visa cards. According to Tradingview.com, the coin dropped by 19% to $.265. On Sunday before the announcement, CRO was trading above $.33
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Mexican Remittances Are the Continent’s Largest. Crypto Companies Want a Cut
Last November, Bitso also partnered with Circle, a peer-to-peer payments company, to launch a new international wire transfer product called Bitso Shift. It’s designed for small businesses and freelancers, allowing them to change their dollars into stablecoins, send them to Mexico, and be collected in Mexican pesos. The service charges
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US lawmakers introduce bills that could force crypto exchanges to cut ties with Russian wallets
Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on U.S. businesses handling crypto transactions for Russian banks and individuals.Speaking at a hybrid markup meeting with the House Financial Services Committee on Thursday, Sherman said he will be introducing a companion bill to Senator
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Polychain, Arca Propose Anchor Protocol Yield Cut
Backed by industry heavyweights, a governance proposal for Anchor aims to make the largest DeFi protocol on Terra more sustainable. Original Source
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