Swiss Crypto Exchange ShapeShift Lays Off a Third of Its Team

Switzerland-based cryptocurrency exchange ShapeShift has laid off a third of its team, the exchange’s CEO Erik Voorhees announced in a tweet today, Jan. 8. According to a company blog post accompanying the Twitter announcement — entitled “Overcoming ShapeShift’s Crypto Winter and the Path Ahead” — ShapeShift has laid off 37 of its employees, reducing the size of its team by a third. In the post, Voorhees attributes the staff cuts to the “latest bear market cycle,” noting that the company’s “greatest and worst financial decision [was] to embrace substantial exposure…

Ethereum Hard Fork Draws Near

Ethereum (ETH) is up over 71% for the month, as its devs prepare for its upcoming hard fork. The major hard fork was supposed to take place in 2018 but was pushed back. Since then, the whole Ethereum community has been steadily working to bring this thing to life. Now, it finally has an end date. The hard fork is scheduled to occur on block #7,080,000, which should happen around January 16th. Ethereum Constantinople Countdown This particular hard fork has been in preparation since 2017, and it promises key upgrades…

Pakistan Telenor Subsidiary Launches Remittance Service Using Alipay’s Blockchain Tech

The Pakistan-based subsidiary of global telecommunications giant Telenor has launched a blockchain-powered cross-border remittance service, according to a press release published Jan. 8. Per the announcement, the Pakistan-based Telenor Microfinance Bank (TMB), Valyou — a Malaysian fintech subsidiary of Telenor — and Telenor’s Easypaisa have jointly launched a blockchain-based international remittance service in Pakistan. The service is reportedly powered by blockchain technology developed by Ant Financial’s online payment platform, Alipay. The new service is reportedly geared to significantly increase the speed and efficiency of remittances between Malaysia and Pakistan. Pakistan…

Report: Bitcoin Mining Equipment Manufacturer Canaan is Considering U.S. IPO

China’s number-two Bitcoin mining equipment manufacturer, Canaan, is reportedly considering an initial public offering (IPO) in the United States. The new development comes after the company shelved plans to go public in Hong Kong just a few months ago. Although an IPO would be a great way for Bitcoin mining companies to raise funding, the persisting cryptocurrency bear market is hampering their ability to go public, as many exchanges are hesitant to list companies that are strongly related to what is widely viewed as a nascent and speculative market. Bitcoin…

Bitcoin Exchange ShapeShift Cuts Third Of Staff In Extended “Crypto Winter”

Leading Bitcoin Startup Cuts 37 Staffers Weeks ago, Dovey Wan, a partner at Primitive Capital, leading crypto industry insider, and whistleblower (of sorts), took to her well-followed Twitter soapbox to remark that she expects more layoffs heading into 2019. Referencing the fact that purging staff in the holiday season is taboo, and shouldn’t be done out of etiquette and human decency, the Chinese Bitcoin (BTC) enthusiast wrote: We will see more [layoffs] coming up into 2019, especially after the holiday when the employment/HR cycle kicks in. Just weeks later, eight…

Bitcoin Exchange ShapeShift Cuts Third Of Staff In Extended “Crypto Winter”

Leading Bitcoin Startup Cuts 37 Staffers Weeks ago, Dovey Wan, a partner at Primitive Capital, leading crypto industry insider, and whistleblower (of sorts), took to her well-followed Twitter soapbox to remark that she expects more layoffs heading into 2019. Referencing the fact that purging staff in the holiday season is taboo, and shouldn’t be done out of etiquette and human decency, the Chinese Bitcoin (BTC) enthusiast wrote: We will see more [layoffs] coming up into 2019, especially after the holiday when the employment/HR cycle kicks in. Just weeks later, eight…

Crypto Markets See Mixed Signals, Bitcoin Still Above $4,000

Tuesday, Jan. 8 — crypto markets are seeing mixed signals, according to data from Coin360, after a day mostly in the green. Bitcoin (BTC) still remains above current psychological barrier of $4,000, while some of the other major cryptocurrencies see mild losses. Market visualization from Coin360 Bitcoin has not dipped below the $4,000 mark for almost two days now, reaching up to $4,109 today. As of press-time, the leading coin is trading at about $4,050. Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin Price Index Ethereum (ETH) still occupies the leading…

Buy Bitcoin! French Yellow Vests Start Bank Run

The Gilet Jaune Bank Run On Monday, reports arose that France’s Yellow Vest movement, an anti-establishment group with a distaste for President Emmanuel Macron and his policies, was planning to start a run on the banks. One French Youtube account named “Geniale (genius),” which posts videos pertaining to the Gilet Jaune (Yellow Vests), reuploaded a video from Nicolle Maxime, in which he claimed that he’s trying to rally individuals to withdraw money from centralized financial institutions. Unfortunately, he didn’t beckon consumers to purchase Bitcoin (BTC). In the thirty-three minute video,…

GMO Mining Halted | GMO Internet Group Loses Mining Revenue

Japan’s GMO Internet Group has published a report on its in-house crypto mining operations. The IT giant confirmed that it took a steep hit in its overall GMO mining revenue. However, it steadily increased its monthly BTC mining rewards. GMO Mining Revenue The company showed “extraordinary loss” from its hardware manufacturing sector in Q4 of 2018. As a result, GMO said it will “no longer develop, manufacture and sell” miners. The company only entered the mining hardware sector in 2017, so that was very short-lived. However, while it will close its hardware…

Two US Law Firms File Class Action Against Altcoin Nano and Exchange BitGrail

Two United States law firms have filed a lawsuit against the developers of altcoin Nano (NANO) as well as Italian cryptocurrency exchange BitGrail, according to a notice published Jan. 7. Crypto-focused law firm Silver Miller and securities law firm Levi & Korsinsky have filed a class action lawsuit representing James Fabian — “and on behalf of all other persons similarly situated” — an investor in Nano, formerly known as RaiBlocks (XRB). The lawsuit alleges that Nano and “key members of its core team” violated federal securities laws and directed investors…