Cryptocurrency Analysis and News Portal
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Bitcoin was recently trading at about $22,900, up over 8% for the past 24 hours. The largest cryptocurrency by market capitalization has mostly lingered between $21,000 and $23,000 for much of the past 10 days. Ether was recently changing hands just above $1,600, up more than 15% over the same
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As a bear market sweeps the crypto industry, CryptoX is keeping a running list of industry players that have been forced to cut back on staff. Source
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Gemini, the cryptocurrency exchange owned by the Winklevoss twins, is laying off more staff. According to reports, the company is axing 7% of its current workforce, as it engages in significant cost-cutting policies. This is the second wave of layoffs at Gemini, after the company laid off 10% of its
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Users of the platform will be able to use MakerDAO’s stablecoin, DAI, as collateral and withdraw up to one million nuARS, a stablecoin tied to the Argentine peso, the company said in a statement. At the current exchange rate, the maximum amount is equivalent to $3,333. Original Source
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Meta, the company formerly known as Facebook, is preparing to face a strong market downturn. According to reports, Mark Zuckerberg, CEO of Meta, announced a change in the hiring policies of the company, lowering the number of engineers planned to be hired from 10K to 6-7K. Previously, Zuckerberg had warned
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According to the Chinese journalist Colin Wu, otherwise known as “Wu Blockchain,” the cryptocurrency company Huobi may lay off 30% of the firm’s staff due to “a sharp drop in revenue.” Furthermore, the reporter claims that Huobi’s co-founder Leon Li is reportedly looking to sell a large stake in the
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Crypto and equity markets have rallied over the past week after U.S. Federal Reserve Chair Jerome Powell signaled a softened stance on rate increases. Powell said the agency’s commitment to reining in inflation, which is now at a 40-year high, was “unconditional,” adding that he expected economic growth to pick
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The crypto markets are going through a rough phase. Bitcoin has crashed more than 70% in 8 months. Amidst the crash, several companies are laying off their employees, desperately trying to save cash. However, not all companies are facing the hammer of fate. Bit.com, the second-largest crypto options exchange, seeks to
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Austrian crypto and stock trading platform Bitpanda joins the growing list of companies to announce a mass layoff as it aims to “get out of it financially healthy” amid an unforgiving bear market.Over the past several weeks, the bear market resulted in numerous catastrophic outcomes for many ecosystems such as
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