Poor market circumstances and recent industry developments, according to Crypto.com co-founder and CEO Kris Marszalek, have prompted a fresh round of layoffs that will lower the company’s worldwide workforce by another 20%. In a corporate update on January 13, Marszalek remarked: “Today we made the difficult decision to reduce our
According to reports, Republicans in the US House of Representatives propose to form a new subcommittee. This is to strengthen their control of the cryptocurrency sector. In an interview on Thursday, incoming Financial Services Chair Patrick McHenry, who has long focused on financial technology issues, asserted that he intends to
Since Coinbase has recently been laying off a large number of employees. Investors’ faith in the company’s debt has taken a beating. The debt of the cryptocurrency exchange has been downgraded by one notch. From “BBB” to “BB-,” from “investment grade” to “speculative grade,” by S&P Global, one of the
According to reports, the bankruptcy court handling FTX’s case has rejected a letter signed by four US senators seeking an impartial examiner in the case. Concerns over FTX’s interconnection to Sullivan & Cromwell LLP were mentioned by the senators in a letter they sent on January 9th. The letter defined
Voyager Digital, a bankrupt crypto brokerage company, has obtained preliminary court permission for a proposed $1 billion sale of its assets to the U.S. wing of the Binance exchange. According to a report from Reuters, Michael Wiles, Judge of the United States Bankruptcy Court for the Southern District of New York,
The role of “Proof of reserves” is to ascertain that a financial institution has a 1:1 ratio backing of user funds with real assets. Blockchain companies are turning to third-party firms to audit their businesses and provide attestations to their assets and liabilities. This move has significantly grown following the
Despite the recovery in the cryptocurrency markets following the demise of the FTX exchange, the situation with Binance withdrawals has not yet normalized. According to a recent report from Forbes, Binance has lost $12 billion in assets as a result of users continuing to withdraw money from the exchange. Binance,
TORONTO–(BUSINESS WIRE)–$ETHC–Ether Capital Corporation (“Ether Capital” or “the Company”) wishes to disclose information to the market regarding its non-core portfolio company, Wyre, Inc. (“Wyre”). Wyre, a U.S.-based cryptocurrency infrastructure provider, has encountered financial headwinds following the collapse of cryptocurrency exchange FTX and failed acquisition by Bolt, which was terminated in
CoinSwitch, a cryptocurrency trading platform, has released its proof of reserves, revealing that the total value of user assets held as of January 6, 2023, is approximately $131.096 million, or 1,083.45 crores. Amounts held in the wallets indicated total about $112.99 million, or 933.83 crores. Reveals $131.09 Million in Assets
A representative for Genesis Global Trading has confirmed that layoffs occurred on Thursday. Genesis Interim CEO Derar Islim made a public statement before the layoffs were announced. Islim recently said that the company needs more time to find an appropriate solution to the current problems. According to the source with
