Cryptocurrency Analysis and News Portal
Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto
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Sequoia told investors earlier in the year that it would shrink the fund to reflect a changed market, with the crypto fund focusing more on backing newer startups following the crypto downturn that has reduced chances to invest in larger companies, according to the Journal. Source
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The crackdown on crypto firms by the United States Securities and Exchange Commission (SEC) appears to have severely affected Binance’s business. During the past few weeks, the crypto exchange reportedly fired over 1,000 employees and slashed some benefits. According to Binance, the “current market environment and regulatory climate” have caused a
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Changpeng “CZ” Zhao, Binance’s CEO, however, told workers in a company meeting on Friday that Binance was still profitable and had not been impacted by the recent lawsuit against it by the U.S. Securities and Exchange Commission, according to attendees at the meeting that spoke to the Journal. He did
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Blur, the non-fungible token (NFT) marketplace, has introduced the second iteration of its platform, tagging two notable improvements. The platform introduced enhancements by has slashed gas fees by 50%. At the same time, they have added
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Singapore investment firm Temasek Holdings has reduced compensation for the execs responsible for the firm’s investment into the now-defunct crypto exchange FTX. Temasek was once the second-largest outside investor of FTX, with 7 million shares, according to Forbes. The firm however was forced to answer for its investment play after the
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Chinese tech giant Alibaba will cut the prices of its cloud services by up to 50% starting today as it hopes to grow the sector. Alibaba Group (NYSE: BABA) recently announced cutting its cloud prices by 50% to spur business growth. The Chinese tech giant seeks to carve out a bigger share
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Balancer’s OpCo, which manages the protocol’s front end, has laid off two engineers and reduced its operating budget, the providers’ team revealed during the Discord call attended by more than 20 people. The headcount reduction comes as the protocol turns its focus toward improving its user interface and marketing. To
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Netflix shares dropped 5% after the company announced it is slashing prices in Asia, the Americas, and the Middle East. Netflix (NASDAQ: NFLX) recently saw its shares fall following news that the company had slashed its subscription prices. According to reports, the streaming giant attempted to increase subscriber growth by slashing
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ConsenSys, the parent company behind MetaMask, is letting go of 11% of its workforce, with CEO Joseph Lubin blaming “uncertain market conditions” brought on by recent collapses.In a blog post from ConsenSys CEO Joseph Lubin on Jan. 18, the blockchain firm CEO said “poorly behaved” centralized finance actors have cast
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