Day: February 23, 2023

USDC issuer Circle to increase staff by up to 25% amid layoff season

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USD Coin (USDC) issuer Circle plans to increase its workforce by 15-25% in 2023 amid a sea of layoffs across the industry, reported the Wall Street Journal. At a time when a significant chunk of industry-wide firms is laying off staff to mitigate their financial woes, Circle has gone against the tide to hire more people.   41% of all layoffs in 2023 came from the cryptocurrency industry. Major cryptocurrency firms that made significant employee cuts include Polygon, Chainalysis, Bittrex, Huobi, Crypto.com, Coinbase, Gemini, Genesis, and Wyre. A major factor behind crypto companies…

Coinbase Stock Falls but Regains Losses after Its Mixed Q4 2022 Earnings Results

Bitcoin price has gained nearly 50 percent YTD, significantly contributing to Coinbase shares rallying over 72 percent since the calendar flipped. Coinbase Global Inc (NASDAQ: COIN) announced its Q4 earnings and full-year 2022 results on February 21 which has affected its stock price. The American cryptocurrency exchange reported fourth-quarter revenue of $605 million, up 5 percent from the previous quarter and beating the consensus estimate of $588 million. During the fourth quarter, Coinbase reported a loss per share of $2.46, against a forecast of about $2.52. Coinbase Stock and Its…

Coinbase CEO Brian Armstrong Says Crypto in ‘Despair Phase’ Amid US Exchange’s $2,625,000,000 Annual Loss

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Crypto exchange Coinbase is struggling as a result of the bear market but the firm’s CEO, Brian Armstrong, says they’re built for the long term. During an earnings call on Wednesday, Armstrong says that the industry is going through one of those difficult periods in the crypto cycle. “The narrative in crypto tends to flip every two years. It’s either irrational exuberance or despair. Neither one is true at any given time, but we’re in one of those despair phases right now.” Coinbase’s fourth quarter and full-year 2022 report to…

Canada Gives 30-Day Registration Ultimatum to Crypto Exchanges

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On Wednesday, the Canadian Securities Administrators (CSA) published a notice with enhanced regulatory guidelines around “investor protection commitments” for cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies,…

German DZ Bank adds digital currencies into asset management services

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DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco. According to the announcement sent to Cointelegraph, DZ Bank selected Metaco’s custody platform Harmonize to offer digital currencies to its institutional clients. Nils Christopeit, an executive at DZ Bank, said that the Metaco Harmonize platform suits their requirements in terms of security and scalability. “With the offering, we can build by using this technology, we trust to create a durable and fast-growing…

Kim Kardashian, Floyd Mayweather file motion to dismiss crypto promotion lawsuit

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Kim Kardashian, Floyd Mayweather and other celebrities are looking to convince a judge to dismiss another revised attempt to hold them liable for allegedly promoting EthereumMax (EMAX) without proper disclosure.  The celebrities asked a California federal judge to dismiss a second amended complaint from EthereumMax investors filed in December. According to the defendants, the renewed allegations pushes the “same basic theory” forward that the court had already previously dismissed.  Looks like Floyd is rockin with the $eMax waveeee #EMAX #Ethereummax #Ethereum pic.twitter.com/TB9wNLwCcb — Breezy Gambinø (@BreezyGambino1) June 4, 2021 The…

Briton Wanted by US for Advising North Korea on Crypto Arrested in Russia – Bitcoin News

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A British national wanted with a red notice from Interpol for consulting North Korea on cryptocurrencies has been detained in Moscow. U.S. authorities allege that the man helped the regime in Pyongyang to bypass sanctions using digital assets. U.K. Citizen Sought by U.S. for Violating North Korea Sanctions Apprehended in a Moscow Hostel The Russian Bureau of Interpol has arrested a British man wanted by Interpol at the request of the United States, the Russian Telegram channel Baza revealed. Authorities in the U.S. claim he was assisting North Koreans in…