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Another Executive Exits Binance Amid Regulatory Scrutiny
6.9.2023
Mayur Kamat, head of product at Binance, is leaving the crypto exchange which has seen several executive exits in recent months. His and the other departures coincide with an ongoing regulatory clampdown on crypto business that has placed the leading trading platform for digital assets under...
Crypto Infrastructure Provider Qredo Slashes Staff, Cuts Annual Expenses by 35% – Bear Market Continues?
5.9.2023
Crypto infrastructure provider Qredo has announced plans to reduce staff and expenses as it navigates the challenges posed by the ongoing bear market.
Qredo has let go of approximately 50 employees, including several senior executives, according to three sources familiar with the matter.
Among...
Indian Crypto Exchange CoinSwitch Cuts Support Team, Citing Market Doldrums
29.8.2023
The crypto investment platform laid off 44 people, or nearly 7% of its employees, about three weeks ago
Argo Blockchain cuts 2022 debt by half, down to $75M
29.8.2023
Cryptocurrency mining firm Argo Blockchain has reduced its debts to $75 million through the first half of 2023
BitBoy Crypto brand will no longer include YouTuber Ben Armstrong
28.8.2023
The crypto influencer brand had a reach of more than 3.3 million followers at the time the company announced Ben Armstrong would no longer be affiliated with “BitBoy Crypto."
Laos Cuts Power Supply To Crypto Mining Firms, Cites Production Concerns
28.8.2023
Electricite du Laos (EDL), the state-run power distribution company, has announced a major cut to crypto mining firms in the country, swerving from its pro-crypto stance since 2021.
According to local news reports, the country cites several reasons for the sudden decision ranging from electricity...
Consensus Pause: Majority of Economists Predict No Rate Hikes for 2023, With Cuts Delayed Until March 2024
20.8.2023
A newly published Reuters poll reveals that most economists concur: the U.S. Federal Reserve has likely capped its rate hikes. Yet, rate cuts aren’t anticipated until March 2024. This survey drops just as markets approach the annual Jackson Hole Economic Symposium scheduled for next week. All eyes...
Canaan Cuts Bitcoin Mining Power by 2 EH/s Amid US, Kazakhstan Challenges
20.8.2023
Canaan, a leading high-performance computing firm and mining rig producer, recently disclosed hurdles set to dent its bitcoin mining activities and revenue from Q3 2023 onward. These setbacks primarily stem from diminished operational hours of their mining devices. This revelation comes hot on...
OpenAI says GPT-4 AI cuts content moderation time down from months to hours
16.8.2023
Insights gained from these endeavors will contribute to refining current content policies or crafting new ones in uncharted risk domains
Why Across The Spider-Verse's Home Release Isn't Like The Theatrical Cuts
15.8.2023
In a recent interview with GamesRadar, Spider-Man: Across the Spider-Verse producers Phil Lord and Chris Miller explained why the movie’s digital release introduced some changes to its multiple theatrical cuts.Read more
Goldman Sachs Expects Fed to Start Cutting Interest Rates in Q2 Next Year
15.8.2023
Goldman Sachs has predicted that the Federal Reserve will start cutting interest rates in the second quarter of next year. The global investment bank’s economists also expect the Fed officials to forego hiking rates at their upcoming meeting. “We are penciling in 25 basis points of cuts...
Peter Schiff Warns Investors of 2 ‘Huge Surprises’ — Foresees Inflation Too High for Fed Rate Cuts to Stimulate Economy
13.8.2023
Economist Peter Schiff says investors are in for “two huge surprises.” Noting that the Federal Reserve has already lost its fight against inflation, he explained that by the time the U.S. economy officially enters a recession, inflation will be too high for the Fed to “stimulate” with...
Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials
3.8.2023
Saudi Arabia announced it will continue limiting oil production through September, extending output reductions that have drawn criticism from Washington. Riyadh Holds Firm on Oil Output Limits Saudi Arabia said Thursday it will keep oil production nearly one million barrels per day below its quota...
NFT Now Cuts Jobs in Restructuring Move
31.7.2023
Alejandro Navia, President of NFT Now, tweeted that the Web3 publication had “over-hired.” Meanwhile, another founder of NFT Now’s Twitter was hacked over the weekend
Japan Blockchain Association demands tax cuts for crypto
31.7.2023
Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets
Sequoia Capital Cuts Crypto Fund by Over 65% to $200 Million – What's Going On?
28.7.2023
Venture capital giant Sequoia Capital has slashed the size of its cryptocurrency fund by over 65%, reducing it from $585 million to $200 million, Wall Street Journal reported citing sources familiar with the matter.
The venture capital giant has also made corresponding cuts to its ecosystem fund...
ECB Tightens Grip With 12th Consecutive Rate Hike; Lagarde Asserts ‘No Cuts’ Amid Lingering Inflation Concerns
27.7.2023
The European Central Bank (ECB) has raised the benchmark bank rates by 25 basis points (bps) citing that inflation was down but still remained “too high for too long.” When ECB president Christine Lagarde was pressed about cutting rates by reporters, Lagard insisted the central bank was “not going...
KuCoin denies mass layoffs, says cuts are part of 'normal' operations
26.7.2023
KuCoin has shut down rumors that it would be laying off 30% of its workforce but admitted there may be some "personnel adjustments" in the future
Binance cuts back on employee benefits, citing 'decline in profit': Report
17.7.2023
The crypto exchange reportedly stopped offering reimbursement to employees for certain expenses including use of mobile phones, fitness, and working from home
Binance Reportedly Lays Off Over 1,000 Employees, CZ Says Exchange Is Hiring
15.7.2023
Leading crypto exchange Binance has cut hundreds of jobs after a string of executive exits, according to a media report. The news, which comes as the coin trading platform marks its sixth anniversary amid increased pressure from regulators, was termed as FUD by founder Changpeng Zhao who said...