The company is expected to lay off about half its employees, according to a Bloomberg report on Thursday, citing unnamed sources. Last week, Musk ousted his CEO and other senior executives, and in the past has made no secret of his intent to change Twitter’s direction. Source
The three founders of crypto exchange Bitpanda have set up their own venture capital firm, according to a report by The Block Thursday. Source
United States-based crypto investor, Protocol Ventures, is said to be closing down as it feels the squeeze of crypto winter. Source
Embattled crypto exchange platform Zipmex is reportedly on the verge of being purchased by a venture capitalist firm. According to a new report by Bloomberg, the Singapore-based digital assets exchange is currently in talks with V Ventures, an investment firm that focuses on technology. Sources familiar with the situation tell Bloomberg that Zipmex is on the cusp of agreeing to a majority buyout, though the buyer has not been officially named. However, they also noted that the company is in close talks with V Ventures. The sources go on to…
Zhao wants his crypto exchange to become a bridge between traditional finance and crypto, according to a report in Bloomberg. Source
CryptoX – Cryptocurrency Analysis and News Portal Cryptocurrency exchange Zipmex is in advanced buyout negotiations that will see it potentially sell a majority stake in the business. Source The post Troubled Crypto Exchange Zipmex Is in Advanced Takeover Talks: Report appeared first on CryptoX. CryptoX Portal
Glassnode released a report detailing Bitcoin’s performance during the bear market and the potential for a break out from current levels. The report highlights that Bitcoin is performing similarly to how it did in other bear markets and may need more time to respond and move. The profitability of long-term holders is also at 60%, but a subset of long-term holders are seeing capitulations. The crypto market is looking much more positive as it heads into the new year, with Bitcoin holding steady above the $20,000 level. Other crypto assets…
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As November begins, analysts are busy dissecting the major market movements that occurred in October. While Bitcoin (BTC) stayed relatively unchanged with only 5.89% growth in October, Arcane Research senior analyst, Vetle Lunde mapped out the direction the market might take in the next few months. “Uptober,” a reference to Bitcoin’s bullish historical performance in the month of October, was a common theme across many threads on Crypto Twitter and, according to Lunde, this performance appears to have happened once again. Data shows BTC and exchange tokens outperformed the large…
Bitcoin mining firm Core Scientific is reportedly considering a potential bankruptcy amid a group of its convertible bondholders consulting restructuring lawyers. According to a Nov. 1 report from Bloomberg Law, the Core Scientific bondholders worked with legal firm Paul Hastings following a United States Securities and Exchange Commission filing suggesting financial distress. The Oct. 26 filing indicated that the mining company was unable to meet its financial obligations in late October and early November, citing the low price of Bitcoin (BTC), rising costs of electricity, an increase in the global…