Month: July 2022

Blockchain.com Renders A Quarter Of Its Workforce Jobless As Bear Market Bites

Blockchain.com has announced on Thursday that it was slashing a quarter of its global workforce, multiple sources disclosed. The Luxembourg-based cryptocurrency exchange had swiftly grown during the bull market, hiring 450 new employees over the course of 16 months. As the bear market continues to wreak havoc, the company has decided to reverse course, laying off approximately 150 of its 600 employees. Image – Moeara News Suggested Reading | Ripple Will Lose Court Battle Against SEC, Anti-Crypto US Congressman Says The majority of affected employees (44 percent) are based in…

Sell the news? Cardano price risks 20% drop despite Vasil hard fork euphoria

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Cardano (ADA) has dipped this July 21 as the market favors mounting selling pressure around its most reliable resistance levels in 2022 over a major upcoming hard fork. ADA price could plunge 20% by early August ADA’s price fell 5% intraday to $0.476. The downside move came as a part of a broader retreat that started a day after it briefly climbed above its 50-day exponential moving average (50-day EMA; the red wave in the chart below) near $0.50. The 50-day EMA has been serving as ADA’s curvy resistance level since…

US authorities arrest former Coinbase manager, alleging insider crypto trading

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United States authorities have brought charges against three people for wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading using crypto, one of whom was a former product manager at Coinbase Global. In a Thursday announcement, the U.S. Attorney’s Office for the Southern District of New York said in conjunction with the New York Field Office of the Federal Bureau of Investigation it had filed an indictment against former Coinbase Global product manager Ishan Wahi as well as his brother Nikhil Wahi and associate…

XMR Moves to 5-Week High, Despite Crypto Selloff – Market Updates Bitcoin News

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Monero moved to its highest level in five weeks on Thursday, despite crypto markets mainly trading in red. The token rose to its highest level since June 13 after extending recent gains. On the other hand, dogecoin dropped lower today, despite Elon Musk announcing that Tesla hasn’t sold any of the meme coin. Monero (XMR) Monero (XMR) was a notable mover in today’s session, as the token rose for a fourth consecutive day. Today’s surge saw the token climb to an intraday high of $153.09, which is its highest point…

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Bitcoin bulls miss key resistance flip as BTC price sheds 8%

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Bitcoin (BTC) extended losses on the July 21 Wall Street open after a key resistance level failed to hold as new support. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar rises to squeeze risk assets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $22,340 on Bitstamp after the opening bell, down 8% from its local top.  The pair’s progress had seen a challenge from Tesla, which revealed that it had sold 75% of its BTC position at a loss. Macro events then added to Bitcoin’s woes in the…

Ex-Coinbase Manager Among 3 Arrested on Crypto Insider Trading Charges

“As used in this complaint, ‘crypto asset security’ refers to an asset that is issued and/or transferred using distributed ledger or blockchain technology – including, but not limited to, so-called ‘digital assets,’ ‘virtual currencies,’ ‘coins,’ and ‘tokens’ – and that meets the definition of ‘security’ under the federal securities laws,” the SEC complaint said. Source

What are the long-terms goals for the Ethereum blockchain? Vitalik Buterin explains live at EthCC

On Thursday, Vitalik Buterin, co-founder of Ethereum, shared his long-term vision for the namesake blockchain live at the annual Ethereum Community Conference, or EthCC, in Paris. As told by Buterin, Ethereum is currently at an inflection point, or period of rapid change, before the ecosystem’s capability will eventually settle down.  Currently, the foremost priority for Ethereum is building an easy-to-use light client for consensus layer, execution layer, and layer-two solutions by default. Next is better support for home stakers or those looking to validate network transactions when Ethereum transitions to…