As of Tuesday, users can initially make vaults only for the liquidity tokens of Curve Finance, a stablecoin swapping application. These vaults will use veCRV, a time-locked token issued by Curve, which allows users to effectively boost their yield rewards. Source
“There is much interest in whether Chair Powell, who speaks at a Riksbank event, uses the opportunity to underscore the December minutes, which pushed back against the easing of financial conditions,” one observer said. Original
Even though Bitcoin (BTC) and the broader crypto market are experiencing an upswing in the first days of the new year, on-chain data shows that the market remains in a deep slumber. As Glassnode explains in its latest report, the BTC price has shown historically low volatility over the past weeks. And according to the on-chain data for Bitcoin, there is currently little reason to believe that the boredom in the market will change quickly. However, if a move does occur, it will likely be an explosive market move, as…
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Major cryptocurrency exchange Coinbase is starting 2023 with more layoffs, letting go of another 20% of its employees in a second major wave of layoffs. Coinbase CEO Brian Armstrong officially announced on Jan. 10 that Coinbase will cut 950 jobs as part of the company’s measures to reduce the firm’s operating costs by around 25% amid the ongoing crypto winter. Armstrong emphasized that Coinbase is “well capitalized,” and crypto “isn’t going anywhere,” but the firm has to proceed with layoffs in order to keep the “appropriate operational efficiency.” “In fact,…
Place/Date: – January 10th, 2023 at 12:00 pm UTC · 3 min read Source: HedgeUp Start the year right by investing in the most promising cryptocurrencies for 2023: HedgeUp and Algorand. These two relatively new crypto companies have different concepts with similar goals: one of which is to make blockchain technology more relatable and push for mainstream use. What Gives HedgeUp a Leg Up Finance traditionalists find crypto too complicated to be entangled with. But HedgeUp grounds the concept so the everyday person can invest through the LaunchPad system. What…
CryptoX – Cryptocurrency Analysis and News Portal Crypto exchange Coinbase has said it is planning to reduce its headcount by around 950 employees as part of a restructuring which it expects to be complete by the end of Q2 2023. Source The post Coinbase Plans to Cut 950 Jobs by End of Q2 appeared first on CryptoX. CryptoX Portal
Armstrong told CNBC, that the company came to the decision after looking at various stress tests for Coinbase’s annual revenue. He added that “it became clear that we would need to reduce expenses to increase our chances of doing well in every scenario” and there was “no way” to do so without reducing headcount. Source
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Computer software behemoth Microsoft plans to invest a substantial sum in OpenAI – the creator of ChatGPT. Microsoft (NASDAQ: MSFT) is reportedly lining up $10 billion to invest in ChatGPT owner and creator OpenAI. According to people familiar with the matter, the multinational tech corporation is talking with OpenAI regarding this investment. Should the deal scale through, Microsoft could own up to 49% of OpenAI. Semafor reports that the deal incorporates funding from other venture firms, which will value OpenAI at $29 billion, including the new investment. In addition, other investors could collectively…