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Polygon Labs has reduced its workforce by 20%, citing the need to focus on core competencies across fewer business divisions as the reason for the layoffs. Over one hundred workers were affected; they would be offered three months’ worth of severance as part of the turnaround plan. On the other
Polygon (MATIC) has been a top performer this past week, and with its recent Dogecoin flip, it may be trying to overtake Cardano and Binance USD next. Although the industry as a whole has felt the effects of Bitcoin’s surge to over $25,000, no other altcoin has witnessed benefits on
The Ethereum Denver conference website duplicated by cybercriminals, who used it to start a phishing scheme that culminated in the theft of almost $300,000 worth of Ethereum. Blockfence was able to recognize the fake website. And noticed that more than 2800 wallets hacked in the previous six months. The ETH
The Floki ecosystem is added to the list of significant big shots that contributed to Turkey’s earthquake. On Monday, Floki announced an NFT sale to support earthquake relief efforts in Turkey. That featured “Turkey’s flag” in the form of 1.08 mins video and was named “Floki’s Turkey Earthquake Relief NFT”.
Cloud mining firm BitFuFu has launched a voucher marketplace for Bitmain’s Antminer-branded rigs. Bitmain is the major provider of cryptocurrency mining hardware. Sales of cryptocurrency mining hardware dropped last year, so Bitmain responded by offering discounts on its Antminers to loyal customers. However, many of them are still sitting idle
As the crypto markets continue to reach new heights, the price of Ethereum (ETH) appears to be on an upward trajectory and is showing signs of a massive surge in the near future. This is according to a recent analysis by an experienced analyst, who notes that the cryptocurrency’s volatility
The Securities and Futures Commission (SFC) of Hong Kong is seeking public input on its recently proposed licensing scheme for cryptocurrency exchanges. That is slated to go into effect in June 2023. On Feb. 20, the SFC announced the consultation process and detailed a new licensing framework for the industry.
Tencent one of the largest Chinese tech firms has laid off around 300 employees from its respective metaverse development teams. Tencent, well renowned for its software business, is presently abandoning its aspirations to enter the metaverse hardware sector. Which will have an impact on hundreds of workers. Local news sources
Stablegains, a yield platform for decentralized finance, has been sued in a California court for allegedly deceiving investors and breaking securities laws. Alec and Artin Ohanian, the plaintiffs in the federal lawsuit filed on February 18 in the Central District of California, claim that without their permission or knowledge, the
The largest cryptocurrency “Bitcoin (BTC) overtook Visa” to rank as the eleventh-largest asset by market capitalization. The price of BTC has increased by over 48% since the start of 2023. At the time of writing, Bitcoin traded at $24,486 with a market capitalization of $472 billion, slightly more than the
