Day: January 5, 2023

Lido Token Spikes, Are Whales Actively Accumulating LDO?

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Following Ethereum whale interest in the Lido Finance token, LDO has gained massive momentum over the past week, up by 20%. Whalestats recently reported LDO was one of the most used smart contract tokens among the top 5,000 ETH investors.   While the reason for the token adoption may be quite glaring, its recent spike has begged questions from individuals wondering if whales are actively accumulating the Lido Finance token. Whales Accumulating LDO? According to on-chain data, whales are interested in LDO. LookOnChain reported earlier today some investors received a massive…

Retail Giant Amazon to Carry Out Record Layoff of 18,000 Employees amid Economic Crisis

Recently, layoff decisions has somewhat become a trend among global firms. Online retail giant Amazon has announced its decision to cut down its number of employees due to the global economic situation. The announcement, which comes as a follow-up to a previous one, confirms that the layoffs will affect no less than 18,000 employees of the firm. According to Amazon Chief Executive, Andy Jassy, full details of the layoffs will emerge by January 18. However, he can confirm that the company’s e-commerce and human resources departments will be largely affected.…

Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report

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The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals. According to a report published by The Wall Street Journal, the bank liquidated debt that it was holding on its balance sheet to keep up with withdrawals, losing $718 million in the process. The loss reportedly surpasses the firm’s profits since 2013. In addition, crypto-related deposits in the firm dropped by 68% in the fourth quarter…

File Crypto Tax Reports at Unbeatable Price in UK

Cryptiony was established to help solve one of the most fundamental challenges in the digital currency sector – filing tax reports. The bigger the crypto ecosystem, the more tax authorities in different jurisdictions will require active players to file their tax reports. While many countries have not gotten to the level at which they enforce their own tax rules, the United Kingdom is a notable exception. Taxes are not just mandatory in the country, it is a criminal offense to evade crypto taxes or file its report either for losses…

US DOJ Prepares to Seize $465M in Robinhood Shares Belonging to SBF, HOOD Stock Up 3.4%

The DoJ believes SBF engaged in a year-long fraud business that cost investors and customers billions of dollars. The United States Department of Justice (DOJ) is, ostensibly, preparing to seize and liquidate Sam Bankman-Fried’s (SBF) 56 million Robinhood Markets Inc (NASDAQ: HOOD) shares valued at approximately $465 million. Notably, SBF purchased approximately 7.42 percent of HOOD stock via Emergent Fidelity Technologies Ltd, using funds borrowed from Alameda Research, according to an affidavit he filed in December in an Antigua court. According to media outlet Reuters, US attorney Seth Shapiro told…

Oorbit Partners with LG Electronics to Bring Metaverse Games to Smart TVs

With the metaverse gaining immense momentum through NFTs and blockchain technology, LG and Oorbit are poised to disrupt the industry significantly. Oorbit, a 3D cloud-based technology platform, has announced a strategic partnership with LG Electronics to bring immersive gaming to smart TVs. Through the partnership, LG and Oorbit users can access virtual concerts on Elynxir from Pixelynx and AI generative multiplayer games in Auxworld from Auxuman. In a note through the announcement, Pooya Koosha, CTO and Oorbit cofounder, noted that the company has been developing hardware and software for the…

Cowen Downgrades Coinbase Stock Citing Trading Volume Declines

“COIN’s business is significantly correlated to crypto asset prices, trading volumes, and volatility,” they wrote. “COIN’s monthly trading volumes have seen a fairly consistent drawdown each subsequent month since November 2021, and there remains low visibility into either a stabilization or rebound in retail trading volumes over 2023 given the macro backdrop and FTX contagion risks on crypto asset prices.” Source

Introducing CATASTROPHY MultiPass: the Revolutionary NFT Solution for WEB3 BUIDLers

Place/Date: – January 5th, 2023 at 12:16 pm UTC · 4 min read Source: CATASTROPHY The CATASTROPHY team has unveiled a pioneering offering, MultiPass, which repurposes non-fungible tokens (NFTs) as decentralized identities (DIDs) and serves as a cross-chain, cross-application membership token. This innovation comes at a time when the market for NFT collectibles is experiencing a decline in value and liquidity amid bearish conditions. WEB3 BUIDLers stand to benefit greatly from this innovative solution, which facilitates access to advanced memberships for various tools that are crucial for product development and…

Big Eyes Coin And Four Other Cryptos To Buy To Diversify Your Portfolio In Christmas

Place/Date: – January 5th, 2023 at 12:07 pm UTC · 4 min read Source: Big Eyes Coin As traditional sources of finance have some shortcomings, cryptocurrencies have saved consumers the pain of relying on them ever since they were first introduced. Traditional financial systems include things like using fiat money as a means of exchange, being overseen by the government, and having physical locations. Cryptocurrencies don’t have any of the aforementioned qualities because they are not conventional financial instruments. To make money simpler and more accessible to individuals from all…