Month: June 2022

Kraken reiterates hiring targets as CEO denounces ‘woke activists’ in corporate culture

On Wednesday, cryptocurrency exchange Kraken announced that it would continue to hire over 500 roles in various departments amid a market downturn. The company’s hiring efforts are in stark contrast to a week of severe layoff announcements from major blockchain firms such as Coinbase, BlockFi, etc. In support of the decision to expand its staff, Kraken said:  “We have not adjusted our hiring plan, and we do not intend to make any layoffs. We have over 500 roles to fill during the remainder of the year and believe bear markets…

Reasons Crypto Platform Celsius Appears to Be Insolvent

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As “the season of red” continues in the cryptocurrency world, Celsius, a do-it-all fintech app that gives users easy and trusted access to crypto services, as of June 14, appears to be insolvent. This state of insolvency can be attributed to two wrong moves made by the cryptocurrency platform. The first of the moves is when it uses on-chain leverage and the second is using stETH. The stETH move is a problem that came up when the company used an ETH derivative called stETH to pump up its ETH yield…

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Crypto Market In Panic Ahead Of FED Meeting, Will It See Relief?

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The crypto market could face more volatility during today’s trading session. The U.S. Federal Reserve is set to host its Federal Open Market Committee (FOMC) meeting and possibly announce a hardline approach to combat inflation. Related Reading | Bitcoin Miners’ Exchange Flow Rises To Seven-Month High Amid Bloodbath Inflation metrics have been at their 40-year high versus the U.S. dollar. Thus, investors expect the financial institution to announce a hawkish monetary policy to try and bring down inflation which has been impacting the crypto market and risk-on assets. At the time…

Bitcoin Plummets but is there More Downside Ahead? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Despite the Nasdaq bouncing 0.21% yesterday and both the S&P 500 and Nasdaq futures showing gains this morning, Bitcoin continues to plummet. What are the factors contributing to this extreme sell off? Systemic issues in crypto infrastructure companies such as Celsius Celsius are one of the biggest lenders and could potentially become insolvent. The Celsius on-chain liquidity crisis has become healthier over the past 24 hours, as they have added to their collateral across the board for 3 main positions. One…

Building a blockchain for developing NFTs with utility: Case of Ternoa

A year into the boom of NFTs, they are no longer just mere cultural assets but building blocks of Web3. Used for Metaverse experiences, games, and decentralized applications, NFTs are now at the center stage of the blockchain industry. As programmers explore what the new world of NFT-centered projects has to offer, they seek secure and dev-friendly tools to create the next big thing. In a relatively new space for developers, building an NFT-centric project comes with a lot of obstacles. They range from adapting to the new networks and…

Binance Continues to Hire Despite Heavy Hits and Lay Offs From Other Exchanges

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Every player in the cryptocurrency space has been hit with the crypto winter that’s currently on it the cryptocurrency ecosystem. Despite the effects of the so-called crypto winter, Binance continues to be optimistic about the reversal of fortunes as the cryptocurrency powerhouse announced that it would continue its hiring efforts amidst announcements of laying off from other cryptocurrency exchanges. In a video at the Consensus 2022 festival held in Texas this weekend, CEO and founder of Binance, Changpeng Zhao, shared his thoughts on the crypto winter and how the cryptocurrency…

Ternoa, First NFT-Centric Blockchain, Releases Mainnet Setting to Disrupt NFT Economy – Press release Bitcoin News

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press release PRESS RELEASE. Paris, France, 15 June 2022: Ternoa is a layer 1 open-source blockchain ecosystem that facilitates the adoption of utilitarian NFTs by giving developers full technological stack, access to independent infrastructure, nodes, developers’ community, and funding. The project is guided by principles of security and ownership, made possible with a combination of decentralization and encryption. Since 2021, the role of NFTs has transformed dramatically: from mere cultural assets to building blocks that allow developers to incorporate utility in the next generation of decentralized applications and Web3 NFT-based…

Bitcoin Crash Sends Institutional Investors Running For The Hills

Small and retail investors are not the only ones getting hit hard by the Bitcoin crash. Institutional investors are also feeling the heat of the market crash. This has sent the institutional investors running as inflows had halted for the last week. Outflows from crypto and blockchain-related investments grew steadily over the course of the weeks, totaling more than $100. million. Institutional Investors Stay Away The institutional outflows for last week have been concerning for crypto investors but in no way surprising. With the emergence of the ‘crypto winter’, it…