Day: August 14, 2023

CoinDesk lays off over 40% of editorial staff to ‘ensure a financially sound business’ ahead of sale

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Digital Currency Group (DCG) is laying off staff as the company tries to ensure that its expenses-to-profit ratio looks better for potential acquirers. DCG — the owner of CryptoX — is cutting the publication’s editorial team by almost 45%, or 20 people, which represents 16% of its overall workforce. In an internal memo reviewed by TechCrunch, CryptoX CEO Kevin Worth explained that this decision “was a required step to ensure a financially sound business moving forward…

Commodity tokenization is the economic aid Africa needs

boss

In my youth, amid Ghana’s cocoa farms, I walked with my grandfather, a soldier turned farmer. He shared how these beans fueled our nation’s pride and economy. As the digital age unfurls, I often wonder: Could the modern marvel of crypto tokenization be the change my grandfather and countless cocoa farmers need? Despite their vast agricultural and mineral wealth, many African countries face issues such as limited access to global markets, unfair trading conditions, lack of transparency in transactions and susceptibility to market manipulation. These challenges hinder economic growth, perpetuate…

Coinbase Says Canada Is Its Next ‘Go Deep Market’ As Crypto Exchange Announces New Expansion

boss

US-based crypto exchange giant Coinbase is announcing its official expansion into the market of North America’s second-largest economy. In a new blog post, Coinbase announces its official launch in Canada while promoting a premium trial program for new Canadian customers. “Coinbase announces its official entry into the Canadian market, backed by the integration of Interac payment rails, with leading banking and payment partners, enabling seamless fund transfers, and the introduction of Coinbase One – a 30-day trial offering zero trading fees, enhanced staking rewards, and priority support for Canadian users.”…

Celsius customers to vote on settlement plan with Fahrenheit after judge gives okay

boss

Bankrupt crypto lender Celsius can start sending out ballots to its customers for a vote on a proposed settlement plan that would see a consortium called Fahrenheit buy Celsius’ assets and launch a new company. That company would distribute Celsius assets and equity in the new company to its customers.  Judge Martin Glenn of the Southern District of New York Bankruptcy Court approved a motion to allow Celsius customers to vote on a settlement of class claims to reimburse participants in Celsius’ Earn program, as well as to increase customers’…

BALD Deployer Moves Proceeds Of The Rug From Base To Ethereum

boss

In a shocking turn of events, the developer behind the controversial meme coin BALD initiated a series of significant transactions, raising eyebrows within the cryptocurrency community. The events surrounding the deployer’s recent actions have left both the coin’s value and its reputation teetering on the edge. BALD Deployers Send Funds To Kraken Exchange Blockchain analysis platform Lookonchain has revealed that the deployer of the BALD token has executed audacious moves, bridging a staggering 7,000 ETH ($12.9 million) out of the Coinbase Layer 2 network, Base. Of the 7,000 ETH that…

Kraken Ventures to raise $100M in second fund with focus on ‘early stage founders’

Citing the organization’s extensive experience in having completed “hundreds of early stage investments,” Brandon Gath, managing partner for Kraken Ventures told Cointelegraph, in an email, that the new fund would focus on early stage founders, but would offer support throughout the venture: “Kraken Ventures’ (KV) next fund will double down on our existing thesis and continue to support founders through their full journey from initial capital to IPO.” This marks the second fund from Kraken Ventures. Its previous fund raised $65 million, according to Crunchbase, and was announced December 17,…

Kraken Ventures to raise $100M in second fund, with focus on ‘early stage founders’

boss

Citing the organization’s extensive experience in having completed “hundreds of early stage investments,” Brandon Gath, managing partner for Kraken Ventures, told Cointelegraph in an email that the new fund would focus on early stage founders but would offer support throughout the venture: “Kraken Ventures’ (KV) next fund will double down on our existing thesis and continue to support founders through their full journey from initial capital to IPO.” This marks the second fund from Kraken Ventures. Its previous fund raised $65 million, according to Crunchbase, and was announced Dec. 17,…

Maker Large Holders Accumulate, MKR Rally To Continue?

boss

On-chain data shows large Maker holders have accumulated recently, a sign that the rally could extend soon. Maker Large Holders Have Continued To Expand Their Holdings Recently According to data from the market intelligence platform IntoTheBlock, inflows to the wallets of the large MKR investors have been taking place for a while now. The “large holders” here refer to those investors who hold at least 0.1% of the cryptocurrency’s circulating supply. In Maker’s case, this value would equal about $1.2 million. Thus, the only holders who would clear these criteria…

SBF jailed, FTX partners under attack: Law Decoded

boss

The FTX affair continues to unravel. Sam Bankman-Fried, the former CEO of the failed crypto exchange, will be held in jail through the end of his two upcoming trials. Judge Lewis Kaplan ordered the revocation of the entrepreneur’s $250 million bail following The New York Times report about his alleged attempt to intimidate witnesses. Bankman-Fried faces 12 criminal charges spread across two trials scheduled to begin in October 2023 and March 2024. Meanwhile, the wave of lawsuits has reached former partners of FTX. Eighteen leading venture capital (VC) investment firms,…

Sam Bankman-Fried will ‘return to his depression’ without access to medication, say defense lawyers

The legal team defending Sam Bankman-Fried (SBF) against criminal charges has requested a federal judge allow the former FTX CEO to have access to antidepressants while in jail. In an Aug. 14 court filing, Bankman-Fried’s lawyers provided Judge Lewis Kaplan a proposed order which, if approved, would allow the 31-year-old to apply a transdermal patch with medication during his time behind bars. According to a letter provided by Dr. George Lerner, SBF has been under psychiatric care since February 2019 and “has a history of Major Depressive Disorder and Attention…