Ethereum mostly consolidated during Tuesday’s session, as prices continued to trade close to recent highs. Following a move to a three-week peak to start the week, markets maintained bullish sentiment, earlier in the day. Bitcoin also upheld recent momentum, with the coin remaining near its ceiling at $17,400. Bitcoin Bitcoin (BTC) continued to trade close to the $17,200 level in…
Crypto exchange Binance has been a major talking point since the downfall of FTX, both inside and outside of the crypto industry. The company and its founder, Changpeng “CZ” Zhao, have been under a microscope in an attempt to keep the behemoth in line. On Jan. 10, a tweet surfaced regarding the cryptocurrency exchange’s employee policy to prevent insider trading. It…
American billionaire Mark Cuban has been ordered to depose in court next month as part of an ongoing lawsuit against him by disgruntled customers of bankrupt crypto lender Voyager, who allege Cuban misrepresented the firm in promotional materials. Filed in a U.S. District Court in South Florida in August, the suit describes Voyager as a “massive Ponzi scheme” and highlights…
Major cryptocurrency exchange Coinbase is starting 2023 with more layoffs, letting go of another 20% of its employees in a second major wave of layoffs. Coinbase CEO Brian Armstrong officially announced on Jan. 10 that Coinbase will cut 950 jobs as part of the company’s measures to reduce the firm’s operating costs by around 25% amid the ongoing crypto winter.…
Crypto exchange Coinbase today announced more sweeping layoffs, citing “the ongoing market conditions impacting the cryptoeconomy.” In an 8-K filing with the SEC, the firm said that this restructuring would cut the firm’s headcount by approximately 950 employees. The cost to do so, tallying severance packages, could range up to $163 million. The layoffs are expected to conclude by the…
The cryptocurrency industry will see increased consolidation in 2023 as healthier companies acquire more crypto and blockchain companies, according to a senior executive at Ripple. Sendi Young, Ripple’s managing director for Europe, took to Twitter on Jan. 9 to share a set of industry predictions for 2023, expressing confidence about crypto in the near future. According to Young’s forecast, the…
Bitcoin (BTC) stayed above $17,000 on Jan. 10 as risk assets awaited fresh cues on policy from the United States Federal Reserve. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell to kick off week of U.S. macro triggers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after hitting $17,396 on Bitstamp the day prior — its highest since…
Shares in the troubled Grayscale Bitcoin Trust (GBTC) surged on Monday, narrowing its discount from Bitcoin. The price for the OTC-traded security jumped 11.56% yesterday, to $9.65. This brought the trust’s discount against the net asset value (NAV) of its Bitcoin holdings to 38.55%, the smallest gap since mid-November. GBTC is a publicly-listed financial vehicle that gives investors exposure to…
Cryptocurrencies rose in popularity in Chile, according to a survey from global consulting firm Bain & Company. The survey found that crypto is ranked as the third most popular investment asset among Chileans, only behind investment funds, which were the most popular investment option, and real estate, which ranked second. Popularity of Crypto Rises in Chile in 2022 Countries in…
As one of the world’s pioneers in adopting its own central bank digital currency (CBDC), Nigeria declares its readiness to accept the existence of private stablecoins as well. The necessity to create a legal framework for stablecoins is marked in the latest central bank strategy paper. Published under the headline “Nigeria Payments System Vision 2025”, the 83-page report from the…
