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Huobi Layoffs Spark Controversy and Speculation, Justin Sun Claims Everything Is Fine
6.1.2023
The cryptocurrency exchange Huobi is laying off 20% of its employees, according to multiple reports over the past two days. However, Huobi’s advisor Justin Sun, the founder of Tron, told the South China Morning Post that the layoff reports were untrue. A Huobi spokesperson later confirmed...
Today in Crypto: Crypto Hackers & Fraudsters Stole $1.62 Billion in Q4 Alone, Silvergate Cuts 40% of Workforce, US SEC Brings Charges in CoinDeal Investment Scheme
5.1.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Crypto Hackers & Fraudsters Stole $1.62 Billion in Q4 Alone, Silvergate Cuts 40% of Workforce, US...
Silvergate in Trouble: Crypto Bank Cuts Staff by 40% Amid a 68% Decline in Crypto Deposits
5.1.2023
Trouble is brewing for crypto bank Silvergate as the company cuts staff by 40% and sells assets at a loss to cover $8.1 billion worth of customer withdrawals. Furthermore, the company's crypto-related deposits saw a 68% decline in the fourth quarter of last year.
According to a Thursday report by...
Silvergate Cuts 40% Jobs, Writes Off Diem Asset Acquisition
5.1.2023
The crypto-focussed bank is writing off its acquisition of Diem's assets
Bitcoin Miner CleanSpark Cuts 2023 Hashrate Outlook by Nearly 30%
14.12.2022
The miner cited delays in building out a mining facility by one of its partners, Lancium
Mizuho Downgrades Crypto Exchange Coinbase to ‘Underperform,’ Cuts Price Target to $30
9.12.2022
The bank’s analysis shows that 2023 revenue estimates for the crypto exchange are overly optimistic
Crypto Miner Hive Cuts Computing Power Forecast for Intel Chip-Based Rigs
9.12.2022
The Canadian firm said it would receive 5,800 machines by end-January, raking in upwards of 630 PH/s
GameStop to drop crypto efforts as Q3 losses near $95M
9.12.2022
The gaming company has stopped its cryptocurrency-related focuses but is seemingly still pushing ahead with its NFT and blockchain plans
Bitcoin Mining Difficulty Drops Most Since July 2021 as Crypto Winter Cuts Profitability
6.12.2022
Bitcoin miners are being caught between rising costs and the lower price of bitcoin
Maple Finance cuts ties with Orthogonal Trading over alleged misrepresentation of finances
5.12.2022
Maple’s decision comes after Orthogonal Trading admitted on Dec 3 that it was unable to meet loan repayments following the collapse of FTX and its partner Alameda
Australian Crypto Exchange Swyftx Cuts 90 Jobs Amid Crypto Winter
5.12.2022
The job cuts would equate to a reduction of almost 45% of Swyftx's workforce
Swyftx cuts 40% of staff as it braces against 'worst-case scenario'
5.12.2022
The Australian crypto exchange said while it had no exposure to FTX, it was "not immune" to its fallout
Kraken Crypto Exchange Cuts 30% of Workforce, Binance CEO Makes Indirect Tweet
1.12.2022
Cryptocurrency exchange Kraken has announced a major job cut, laying off 30% of its workforce or 1,100 people. Meanwhile, Binance CEO CZ warned users in a now-deleted Tweet to beware of platforms that "have layoffs."
In a Wednesday blog post, Kraken co-founder and CEO Jesse Powell said they...
Kraken cuts workforce by 30% in an effort to survive crypto winter
30.11.2022
According to its CEO, the exchange grew too quickly to accommodate the fast-growing crypto ecosystem
Kraken Cuts 30% of Workforce Amid Crypto Winter
30.11.2022
Kraken is feeling the cold
Report: NFT Firm Candy Digital Cuts Over a Third of the Company’s Staff
29.11.2022
With non-fungible token (NFT) sales a lot lower than they were at the start of the year, NFT companies and marketplaces are feeling the pain associated with the second-largest crypto winter to date. According to a report published on Monday and “multiple people familiar with the situation,” the...
Nifty News: China’s lockdown protest NFTs emerge, Candy Digital cuts staff, and more
29.11.2022
Two collections have appeared on NFT marketplace OpenSea depicting images and art related to the rare widespread protests in China over its lockdown policies
Billion-Dollar NFT Platform Backed By Gary Vee Cuts a Third of Workforce Amid Market Downturn – Here’s What You Need to Know
29.11.2022
And the layoffs continue amid the ongoing bear market, with the non-fungible token (NFT) platform Candy Digital becoming one of the latest companies to fire a significant number of its employees.
Candy Digital is an NFT platform founded by entrepreneur and investor Gary Vaynerchuk and Michael...
Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%
28.11.2022
As it reels from the effects of what it termed a global economic downturn, the Nigerian digital asset exchange platform, Quidax, recently said it had laid off employees who constituted 20% of its workforce. Despite the layoffs, Quidax reportedly told its customers it is ‘not going anywhere...
FTX collapse could see crypto sector layoffs accelerate
15.11.2022
While the full impact of FTX’s collapse is still unfolding, some have already warned of an increase in layoffs to come “in the months to follow.”