Cryptocurrency Analysis and News Portal
The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also be accompanied by restrictions on cash payments and transactions
Read More
Summary: The CoinFLEX team has announced that it has laid off a significant portion of its team to cut operational costs by 50 to 60%. CoinFLEX has also made cuts in non-staff costs. The team explained that the cost-cutting was meant to transform the exchange into a leaner business. The CoinFLEXCoinFLEX Resumes Crypto Trading
Read More
Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs.According to a Friday blog post, CoinFLEX said it had cut some staff across “all departments and geographies” as part of measures to reduce the company’s costs by 50% to 60%.
Read More
“Through worldwide offices and a network of dedicated on-the-ground contacts for every order, Foundry Logistics ensures cost-effective and streamlined deliveries, providing clients with customs clearance, insurance guidance, ocean shipment solutions, national warehouse solutions and other domestic surface logistics,” the statement added. Source
Read More
The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies
Read More
Crypto miners have been selling bitcoin as their revenues have slumped along with the bear market. The firm said that it has been using derivatives to limit downside risk since fourth-quarter 2021, and hired a full-time trader to improve its "capabilities within risk and treasury management." Source
Read More
Tether is reducing its commercial paper holdings on pace with plans, the stablecoin company reported Friday. It has reached the target sum of $8.4 billion in commercial paper, as per intentions first disclosed last month, and will continue to reduce its holdings in the immediate future. On July 31, $5 billion
Read More
The miner sold 3,000 BTC in the past week to reduce its Galaxy credit facility. It also closed an NYDIG equipment-financing loan. Source
Read More
Summary: The Bybit crypto exchange is looking to reduce the organization’s size amidst the ongoing crypto winter. Bybit could reduce its workforce by a staggering 20% to 30% as it removes overlapping functions and build smaller agile teams. Affected employees will receive a severance package and access to Bybit’s employee career support in
Read More
"We are exploring a way to remove overlapping functions and build smaller but more agile teams to improve our efficiency," a Bybit spokesperson told CoinDesk. "Starting from this week, some of the functions and roles will be reviewed to ensure we stay focused and agile." Original Source
Read More