Month: February 2023

Protocol Labs, Chainalysis and Bittrex add to crypto layoff season

Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.” At least 216 jobs were slashed between three crypto firms – open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and U.S. cryptocurrency exchange Bittrex, with reductions of 89, 83 and 44 employees respectively. Juan Benet, CEO of Protocol Labs, the parent company of Filecoin (FIL), announced the job cuts in a blog post on Feb. 3 stating that the company has had to focus its…

FBI seizes $100K in NFTs from scammer following ZachXBT investigation

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The Federal Bureau of Investigation (FBI) has seized two non-fungible tokens (NFTs) worth more than $100,000 and 86.5 Ether (ETH) from a reported phishing scammer. The alleged scammer in question, Chase Senecal — known as Horror (HZ) online — was initially exposed via a lengthy investigation by independent blockchain sleuth ZachXBT posted back in September. In the FBI’s official notification posted on Feb. 3, it outlined that Seneca’s property — which also included an Audemars Piguet (AP) Royal Oak Watch worth $41,000 — was “seized for federal forfeiture for violation…

Hackers Stole $3.8 Billion From Crypto Firms in 2022, Says Chainalysis – Featured Bitcoin News

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Blockchain analytics firm Chainalysis says 2022 was “the biggest year ever for crypto hacking,” with $3.8 billion stolen from cryptocurrency businesses. The firm added that decentralized finance (defi) protocol hacks accounted for 82.1% of all cryptocurrency stolen by hackers during the year. Crypto Hacking Hit Record High in 2022 Blockchain analytics firm Chainalysis published a section of its upcoming 2023 Crypto Crime Report on Wednesday, stating: 2022 was the biggest year ever for crypto hacking, with $3.8 billion stolen from cryptocurrency businesses. The firm explained that crypto hacking activity significantly…

Binance Returns to Korean Crypto Market — Invests in Troubled Exchange Gopax – Exchanges Bitcoin News

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Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that it has invested in Gopax, a licensed crypto exchange in South Korea. The investment marks Binance’s return to the Korean crypto market, which the company exited two years ago, citing low usage and trading volume.…

The White House Is Concerned About Crypto

“I think that given the events of the last fall, we were very mindful of the need to implement a lot of the safeguards that were called for in the FSOC reports, things like segregating customer assets, getting additional visibility into vertically integrated firms, cracking down conflicts of interest, addressing spot market jurisdiction and that’s a long list. But I think they’re all part and parcel of how we make sure we’ll be protecting consumers and supporting financial stability,” the official said. Source

Uzbekistan Collects Over $300,000 From Crypto Sector – Taxes Bitcoin News

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While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan Pays Over $10,000 a Month to the State Coffer Licensed crypto firms have paid 3.5 billion Uzbekistani som (more than $310,000) to the budget in the course of 2022, Uzbekistan’s regulatory authority responsible for the oversight in the sector revealed during a press conference,…

Filecoin Creator Protocol Labs Cuts 21% of Staff

CryptoX – Cryptocurrency Analysis and News Portal Protocol Labs, the company behind decentralized file storage network Filecoin, is laying off 21% of its staff, CEO Juan Benet announced in a blog post on Friday. Source The post Filecoin Creator Protocol Labs Cuts 21% of Staff appeared first on CryptoX. CryptoX Portal

Top US Crypto Exchange Coinbase Adds Ethereum Staking Altcoin to Listing Roadmap

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Top US crypto exchange Coinbase has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap. Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective, a liquid staking protocol. The Liquid Collective notes its staking method differs from traditional staking, where users lock up their tokens. “Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token…

Crypto Exchange Woes Continue: Kraken Reportedly Shutters Regional Headquarters As Bittrex Lays Off 83 Employees

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A new report finds that crypto exchanges Kraken and Bittrex are downsizing amid the continued turmoil in the digital asset space. Bloomberg reports that San Francisco-based Kraken shuts down its Abu Dhabi office less than a year after receiving a license to operate a regulated exchange platform in the United Arab Emirates (UAE). The third-largest crypto exchange is laying off 30% of its global workforce as a result of the crypto winter. A spokesman says Kraken already dismissed the majority of its team focused on the Middle East and North…