Crypto exchange Crypto.com’s co-founder and CEO Kris Marszalek announced on Jan. 13 that the firm will need to reduce its global workforce by 20%, citing poor market conditions and “recent industry events.” As I shared with the team today, while we continue to perform well, market conditions and recent industry events have made this the right decision for the company at…
The Nasdaq-listed cryptocurrency exchange Coinbase is closing down most of its operations in Japan after announcing another round of job cuts globally. “Despite everything we’ve been through as a company and an industry, I’m still optimistic about our future and the future of crypto,” Coinbase CEO Brian Armstrong insisted. Coinbase Winding Down Majority of Japanese Operations Cryptocurrency exchange Coinbase is…
A group of crypto fraud victims of the BitConnect investment scheme will see some respite from the multi-billion dollar fraud scheme after a court ordered they receive a share in a $17 million restitution. The United States District Court for the Southern District of California ordered the restitution for the “massive” scheme on Jan. 12 according to a release on…
Crypto payment platform Wyre has lifted the 90% withdrawal limit it placed on its users earlier this week after securing additional funding. On Jan. 13, the San Francisco-based fintech firm announced that it had received financing from a “strategic partner” that allows it to continue the normal course of operations, including re-accepting deposits again. “As a regulated financial institution, we’re…
Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU Countries Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has been granted registration as a…
Crypto exchange WonderFi, which is backed by crypto investor and billionaire Kevin O’Leary, has confirmed it is in preliminary discussions with fellow Canadian crypto exchange Coinsquare for a possible merger. In a statement on Jan. 12, WonderFi responded to a Bloomberg report suggesting the two exchanges were in “advanced merger talks” to “create a Canadian crypto giant.” WonderFi clarified that…
Eight major media companies including Bloomberg, The Financial Times and Reuters have demanded public disclosure of the two individuals responsible for guaranteeing FTX former CEO Sam Bankman-Fried’s $250 million bond. In a Jan. 12 letter addressed to New York District Court Judge Lewis Kaplan, attorneys from Davis Wright Tremaine LLP — acting on behalf of the media giants — argued that…
As Bitcoin enthusiasts continue to celebrate the 14th anniversary of the genesis block, the number one cryptocurrency’s price spiked to nearly $19,000 per coin on Thursday, according to CoinGecko, a level not seen since September 7, 2022, when BTC traded at $19,280 per coin. The total market capitalization for the overall crypto marketplace stands at $943 million, up 5.1% in…
After a heated community debate last month, Polygon Labs appears to be moving forward with plans to hard fork the network early next week, according to a blog post published on Polygon’s website Thursday. In the post, Polygon Labs claims the hard fork—proposed to occur January 17—will help prevent network gas fee spikes and address chain reorganizations, also known as…
The Miss Universe contestant from El Salvador this year has surprised viewers by featuring bitcoin as part of her national costume. El Salvador has adopted the cryptocurrency as legal tender and has passed a new regulatory framework for the issuance of its long-awaited bitcoin-backed Volcano bonds. Bitcoin Showcased in Miss Universe 2023 The Miss Universe 2023 contestant from El Salvador,…
