The effect of the recent FTX fallout and market contagions has forced Crypto.com to conduct its second round of layoffs. 1 min read Updated: January 13, 2023 at 10:39 am Cover art/illustration via CryptoSlate Crypto exchange platform Crypto.com has moved to lay off about 20% of its global workforce. Crypto.com CEO Kris Marszalek said in …
Monthly archives: January 2023
US lawmaker Tom Emmer says SEC is ‘protecting’ no one
U.S. lawmaker Tom Emmer said SEC chairman Gary Gensler is “protecting” no one with his “regulation through enforcement” strategy. Instead, Emmer believes that the policy hurts “everyday Americans.” Emmer added: “When can we expect proactive guidance instead of leaving the industry to interpret the rules of the road through your after-the-fact enforcement actions?” The lawmaker …
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El Salvador Chivo Wallet Programmer Opens Up About Alleged ID Fraud, Tech and Money Laundering Issues
A Chivo wallet programmer has opened up about the different problems that the flagship cryptocurrency wallet of El Salvador faced during its initial stages. Shaun Overton, who alleges he was hired to help in the handling of the issues, has talked about ID theft, money laundering problems, and the tech issues he observed while working …
Belarusian Fined $1 Million for Illegal Crypto Trading
A Belarusian citizen will have to pay a hefty fine for illegally organizing the exchange of cryptocurrencies online. Law enforcement authorities in the country, where certain crypto activities are legal, do not plan to impose other penalties besides the administrative measure. Cryptocurrency Trader Tries to Challenge Fine in Belarusian Court The Supreme Court of the …
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Cryptocurrency Exchanges Still Fighting Private Banks for Right to Open Bank Accounts in Chile
The conflict between banks and cryptocurrency exchanges in Chile is still developing, as some banks are reticent to serve this kind of institution. A new report prepared by exchanges reports that most of these banks refuse to include crypto companies as customers for risks that are nevertheless managed in the case of servicing other kinds …
‘Wall of worry’ led to digital wallets, blockchain tech ignored: Cathie Wood
ARK Invest CEO Cathie Wood believes that digital wallets and blockchain tech were among “game-changing innovations” that the equity markets largely ignored in 2022. In a Jan. 12 blog post on the ARK Invest website, Wood suggested that the equity market faced a “wall of worry” in 2022, caused by fears of entrenched inflation and …
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Climate tech VC argues Bitcoin’s ESG positives outweigh its negatives 31:1
A climate tech investor has painted a bright view of the Bitcoin (BTC) network, suggesting BTC’s environmental positives outweigh its negatives by a whopping 31:1 ratio. On Jan. 12, self-proclaimed philanthropist and environmentalist Daniel Batten claimed in a Twitter thread that “Bitcoin is probably the most important ESG technology of our time.” According to Batten, …
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Samsung investment arm considering spot-Bitcoin ETF in Hong Kong
Hot on the heels of its Bitcoin (BTC) futures exchange-traded fund (ETF) in Hong Kong, Samsung Asset Management has indicated it’s considering the launch of a spot Bitcoin ETF on the city’s exchange if policies allow for it. In an interview with Bloomberg published on Jan. 13, Hong Kong chief executive for Samsung Asset Management, …
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Cardano ecosystem set to expand with custom-built sidechains
Input Output Global (IOG) — the team behind the Cardano ecosystem — will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem. The news was announced by IOHK — a blockchain engineering company founded by Charles Hoskinson and now known as …
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BitConnect victims will receive $17 million: DOJ
Compensation will be delivered to 800 people around the world. 1 min read Updated: January 13, 2023 at 1:27 am Cover art/illustration via CryptoSlate BitConnect victims will receive $17 million in restitution money, according to an announcement from the U.S. Department of Justice (DOJ) on Jan. 12. That statement indicates that a federal court in …
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Coinbase Shutting Down Most Crypto Services in Japan After Series of Job Cuts Globally
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 …
Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval
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 …
Miss El Salvador Features Bitcoin in Miss Universe 2023
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 …
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Crypto payments platform Wyre lifts 90% withdrawal cap
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 …
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Bitcoin Price Spikes To $19K, Why BTC Could Correct Lower In Short Term
Bitcoin price climbed further higher above $18,500. BTC tested the $19,000 resistance zone and is currently consolidating gains. Bitcoin climbed further higher above the $18,000 and $18,500 resistance levels. The price is trading above $18,200 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $18,600 on …
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