As these crypto firms try to stay afloat, CoinDesk has compiled a list of industry players that have cut back on staff. By our count, an estimated 26,902 crypto jobs have been lost as of Jan. 5, based on media reports and press releases. Here’s where we stand: Source
Bitcoin (BTC) is back to its range after a failed attempt to reclaim previously lost territory, with a likelihood of seeing further losses. The crypto market has seen a weak price action in 2023, but BTC has been notably more fragile than other digital assets. As of this writing, Bitcoin trades at $16,800 with sideways movement in the last 24 hours. In the previous seven days, BTC records 1% in profits. Over the same period, Ethereum (ETH), Cardano (ADA), Litecoin (LTC), and others have seen gains north of 6% and…
Samsung has had a relatively tough year, one that has seeped into its stock performance. South Korean multinational tech giant Samsung Electronics Co Ltd (KRX: 005930) is set to report a significant slump in its fourth quarter (Q4) operating profit amid a broader plunge in the global economy. According to a Reuters report, citing a Refinitiv SmartEstimate from 21 analysts, the company’s operating profit is bound to fall to 5.9 trillion won ($4.62 billion). Samsung is set to release the preliminary report on Friday while the full report is billed…
Crypto bank Silvergate had to undertake a 200-employee layoff and take other drastic measures to facilitate a withdrawal bank run. During the FTX-triggered crypto meltdown, Silvergate Bank scrambled to cover a massive withdrawal spate and also embarked on a substantial staff layoff. According to the Wall Street Journal, the crypto-focused bank offloaded assets at a loss to cover $8.1 billion in withdrawals. Silvergate also downsized its staff force by a whopping 40% to remain buoyant. Despite these extreme measures taken, the crypto bank says that it remains committed to digital assets. Silvergate Halts Digital…
A hospital in Romania has been targeted in a ransomware attack with the perpetrators seeking payment in cryptocurrency to decrypt its database. The hack prevents the medical institution from reporting to the country’s health insurance fund in order to receive due funding. Botoşani Hospital Blackmailed for Bitcoin, Romanian Media Reports The Saint Gheorghe Recovery Hospital in Botoşani, Northeastern Romania, has become the target of hackers who locked its medical records from December and demanded to be paid in cryptocurrency to restore access to the files. After compromising the servers they…
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Ethereum has seen an upwards push of 4% in the last couple of days as whales have displayed elevated levels of activity. Ethereum Whale Transactions At Highest Level Since December 16th As per data from on-chain analytics firm Santiment, whales have made 611 transactions in the past day. The relevant indicator here is the “whale transaction count,” which measures the total number of Ethereum transfers taking place on the chain that is worth more than $100,000. When the value of this metric is high, it means whales are making a…
Cryptocurrency exchanges are introducing various ways to buy Bitcoin (BTC) using the Apple Pay payment method. This comes as a good move for Bitcoin adoption since the Apple Pay digital wallet accounts for more than 507 million mobile wallet downloads and a dominating market share of 43.5% in the United States mobile payments market. This ability to now integrate and buy Bitcoin with Apple Pay paves new crypto opportunities for iPhone users. This article explains how to purchase Bitcoin and other cryptocurrencies using Apple Pay. What is Apple Pay digital…
Ethereum layer-2 scaling platform StarkNet has overhauled its in-house Cairo coding language to make Web3 development accessible to developers. An announcement shared with Cryptox outlined the upgrades to Cairo 1.0, which is touted to emulate characteristics of the popular programming language Rust. The overhaul intends to allow developers with general coding experience to begin building decentralized applications on StarkNet’s Ethereum layer-2 network. StarkWare co-founder and president Eli Ben-Sasson told Cryptox that making layer-2 development more accessible to developers of varying backgrounds was the main reason for Cairo’s revamp: “Primary drivers…
Cryptocurrencies operate on different fundamentals from traditional investments, and investor sentiment plays a much larger role in determining prices. Human sentiment is notoriously unpredictable and can be significantly impacted by unforeseen events. Source