Coinbase CEO Brian Armstrong officially announced on Tuesday that he made a “difficult decision” to reduce the size of the Coinbase team by about 18% due to a starting economic recession. “We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last …
Continue reading “Crypto exchange Coinbase slashes staff by 18% amid bear market”
Summary: The U.S.-based crypto company previously announced plans to halt hiring. CEO Brian Armstrong announced on Tuesday that the current workforce will be slashed by around 18%. Armstrong noted that affected employees will receive financial and career support from Coinbase as they navigate this trying period. Declining market conditions were mentioned as the key reason …
Continue reading “Coinbase Reduces Workforce By 18% Amid Looming U.S. Recession And Crypto Winter”
Summary: Crypto tokens continue to bleed as market uncertainty persists. Market leaders Bitcoin and Ethereum dipped over 15% on Monday. BTC is down more than 6% in the last 24 hours and trades below $23,000. Technical analyst MagicPoopCannon predicted a leg down for BTC to the $20K or $22K level. Another difficult week for the …
More than a billion dollars worth of crypto assets are being liquidated as Bitcoin (BTC) threatens to trade below $20,000 and print a low last seen in December 2020. Cryptocurrency futures trading and information site Coinglass reveals that over $1.30 billion worth of BTC positions have been decimated in the last 24 hours. Both bulls …
When people began communicating with one another over a wired communication system, the internet, not long ago, it ushered in a revolution in the rate of user acceptance of the technology involved. Users could converse more readily anywhere and anytime when wired technology gave way to mobile technology. For example, smartphones are now bringing a …
Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday. Since launching its software crypto wallet back in 2015, Exodus has been paying its staff 100% in BTC, Exodus co-founder and CEO JP Richardson told Cointelegraph. The …
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Bitcoin price plummeted to the lowest value of $21,033.82 today, sparking fears about a further dip to $20k and below. Though the coin has since picked up and is pegged at a price of $22,640 at the time of writing, investors are still concerned about whether to buy Bitcoin or not, considering its future movements. …
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Multiple factors have contributed to the widespread crypto market crash this week – rising inflation, piling recession fears, global geopolitical tensions, as well as unexpected dips in trusted stablecoins like TerraUSD. The market witnessed rapid sell-offs, with over $200 billion erased from the market in a single day. Valuable cryptocurrencies like Bitcoin and Ethereum have …
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Ethereum Aggressive Drop has given rise to a snowball effect, affecting many cryptocurrencies and exchanges. After Bitcoin, Ethereum gave people hope to retain their positions as exclusive money makers and rule the crypto world. However, the crypto market started to show bearish tendencies at the beginning of the year, and so far, it hasn’t let …
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Hayes highlights open interest data for BTC and ETH, which are at $20,000 and $1,000. He says the closer the market goes to those strike prices; the more will be sold, leading to a potentially large sell-off. The market crash has had an enormous impact on the growth of the market, with several companies conducting …
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Input-Output Hong Kong (IOHK), the parent company for the Cardano blockchain, announced the launch of an Ethereum Virtual Machine (EVM) sidechain alpha on June 12 and added that the sidechain is currently available on the testnet. The launch means it will …
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Tron’s algorithmic stablecoin, USDD, has raised fears and speculations in the crypto market after its price dipped to $0.97 and lost its peg to the dollar. Justin Sun, the founder of TRON, quickly responded via a tweet that the TRON DAO …
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Binance has announced that it will not support Litecoin transactions made through the MimbeWimble Extension Blocks function. The latest Litecoin function allows users to make confidential Litecoin transactions without revealing any transaction information or the sender’s address. The cryptocurrency exchange stated …
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Following accusations that he defrauded investors in his bitcoin investment scheme, the South African radio presenter Sebasa Mogale has said he will take legal action against individuals that have reported him to the police. His lawyer insisted that no evidence will be found because Mogale never committed fraud. Five Fraud Cases Opened Against Mogale Sebasa …
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Guibert Englebienne, co-founder of Globant, an Argentinian software development company, stated that all companies should be aware of what nascent technologies such as crypto, NFTs, and the metaverse are offering. Englebienne explained that these new technologies might disrupt the operations of existing businesses, and that some time might need to be invested to understand these …
